Word: deficits
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Dates: during 1950-1959
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...Yardlings won the hard way, coming back from a two-goal deficit at the end of the first period to tie the score on Bob McVey's goal at 16:34 of the final stanza. The game was unusually fast and rough for a freshman contest, and a near-brawl occurred in the second period...
...pocket some lines from a speech he made in Peoria, Ill. on Oct. 2, 1952. The key sentences: "My goal, assuming that the cold war gets no worse, is to cut federal spending to something like $60 billion within four years. Such a cut would eliminate the deficit in the budget." Reminding the reporters that his new budget, after two years, is $62.4 billion, and the deficit is down to $2.4 billion, the President said with a happy grin: "I almost can claim credit for being a prophet...
...British still buy more in the world market than they sell. But the perennial trade deficit, which haunted the Labor government and forced the 1949 devaluation of the pound, has been transformed into a surplus with the help of such "invisible exports" as Lloyd's of London insurance policies and earnings from foreign tourists. Britain has also benefited from the worldwide change in the terms of trade: since the end of the Korean war, the prices of food and raw materials (which Britain must buy abroad) on the whole have tended to fall, while the price of manufactures (which...
Against these expenditures the President, anticipating growing prosperity, foresaw Government income of $60 billion, an increase of $1 billion over this year. In between is an anticipated deficit of $2.4 billion, approximately one-fourth of the deficit in Harry Truman's last budget. The Government's "cash" budget, which treats trust-fund income, e.g., Social Security funds, as current receipts, is actually expected to show a surplus of $558 million at year...
Last fall the Italian government looked around for new funds to plug a deficit in its Soccorso Invernale (Winter Help for the Needy). Already taxed were theaters, movies, authors' copyrights, railroad tickets, streetcar fares, ski lifts and admission tickets to gambling casinos and race tracks. The next step, the government decided, was to tax track bets as well. Last year Italian horseplayers bet 30 billion lire ($48,000,000), and 1% of that sum would have been ample to help the Winter Help. But a clerk in the Ministry of Interior tripped over his decimals in drafting...