Word: deficits
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Dates: during 1960-1969
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With that, the President moved to stanch the dollar drain with the most Draconian measures yet. He outlined a five-point program aimed at cutting the deficit by $3 billion in the year ahead. Principal features: a reduction in U.S. investment abroad, particularly in Western Europe, to save $1 billion; a cutback in U.S. loans to foreigners to save $500 million; scaled-down Government expenditures overseas-by the Pentagon, by heavily staffed U.S. embassies and by G.I.s and their dependents-to save $500 million; deferment for two years of all but what the President called "the most important, urgent...
Target & Muscle. The deficit grows out of the nation's vast commitments around the world-and the insatiable wanderlust of millions of its well-heeled citizens. In 1967, the outflow turned to a flood-between $3.5 billion and $4 billion. Major factors included the tourist rush to Canada's Expo 67, the outpouring of private funds to finance Israel's costly war, the slowdown in Europe's economies and, most important of all, Britain's devaluation of the pound, which caused a speculative rush for gold and put intense pressure on the gold-backed...
...president Andrew P. Tobias '68 said yesterday that there were several reasons why they had not been able to wipe out the deficit as expected. Many of the businesses have been contributing less than they used to in order to be able to pay better wages. The HSA pays higher average wages than any other college student agency...
Tobias emphasized that HSA was doing better than the figures showed, because much of the profit goes back to the students. He says HSA will probably be able to wipe out the deficit and have a surplus next year. Tobias said that any surplus would be used to start new businesses and maybe to buy a new building. HSA is expanding even without a surplus: the Information Gathering Service (IGS) moved into the third floor of the Putnam Furniture Company on Mass Ave this week...
...Harvard economist has attacked President Johnson's recent measures designed to cut down the United States deficit in the balance of payments as reminiscent of Hitlerian economics...