Word: deficits
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Dates: during 1960-1969
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...prices were advancing at an annual rate of 4%, more than twice the average of the early '60s. The gross national product was bubbling toward the $850 billion level, up some $65 billion from last year. Interest rates soared. On top of a $20 billion-plus federal-budget deficit in the fiscal year ending this month, the new year was expected to bring as much as $30 billion in red ink. So huge a deficit, in turn, threatened to reduce confidence in the already shaky dollar. His back to the wall, Johnson finally met Mills's price...
...renewed rioting took a heavy toll of the French economy, stalling the back-to-work movement at a time when 500,000 workers still had not returned to their plants. In his new role as Finance Minister, Maurice Couve de Murville conceded that France not only faced a budgetary deficit of $2 billion this year but might also be forced to sell some of its $5 billion gold reserves in order to meet a looming gap in its balance of payments. It all meant, explained Foreign Minister Michel Debré, that (Quelle horreur!) France would have to cut back...
Chief among those difficulties are the balance of payments deficits plaguing key trading nations. As a result of France's crisis, a Common Market study indicated last week, Paris is likely to run payments deficits of some $1 billion through next year. Even so, France has reserves of about $5.6 billion, presumably enough to ride out a deficit for some time; moreover, at week's end, it further bolstered the franc with a request for an additional $140 million drawing from the IMF. Britain is headed for an expected deficit of at least $500 million...
...A.M.C., which after two years of deep deficit showed a $1,133,775 profit for the six months ending March 31, shedding Kelvinator will provide some of the cash necessary for continued recovery. The purchase price is expected to be about $45 million, and A.M.C. is sure to apply at least part of that toward a $52.5 million short-term bank loan due at the end of the year. Equally important, income from the deal could enable the company to move further into the production of parts, thus reduce its costly reliance on outside suppliers. As A.M.C. Chairman...
...markets, automakers have been encouraged by the free-trade arrangement to expand their production north of the border. For Canada, the payoff is an expanding auto industry, new assembly jobs for its workers and, as a result of growing auto exports, a decrease in the size of its trade deficit with...