Word: deficits
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Dates: during 1960-1969
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Growing Brain. Though there are countless kinds of malnutrition, the researchers reporting in Boston concentrated on protein-calorie deficiency-an overall shortage of food, including a conspicuous deficit of protein. In Mexico City, reported Dr. Joaquín Cravioto, infants under six months old who had to be hospitalized for this type of malnutrition recovered but then developed much more slowly mentally than older children who suffered from the same condition. Studies in Yugoslavia indicate that such children fail to catch up even seven to 14 years later...
...year, partly because wages have been going up between 8% and 11% a year since 1955 and productivity has not kept pace. Predictably, prosperity at home sucked in an 11% increase in imports last year, while exports gained a mere 3.3%; last week the government announced that the trade deficit continued to rise sharply during January and February. To halt that ominous trend, Erlander expects to give his country an unpleasant antidote that the U.S., confronted with almost the same problem, has so far spurned: a strongly deflationary budget, stiff tax boosts, sharp cuts in government spending...
Melting Surplus. Only seven weeks ago, Treasury Secretary Henry Fowler insisted that the U.S. would end the chronic deficit this year, give or take $250 million. The new forecast, which came from Commerce Department experts despite official denials of its existence, seemed to erase Fowler's promise...
...outstanding foreign loans by $385 million during January and February. Though industry plans to step up its in vestment in foreign plant and equipment by 24% to a record $8.8 billion this year, much will come from dollars borrowed abroad. What else can the Administration do to curb the deficit? Says Treasury Under Secretary Joseph Barr: "The possible courses of action clearly point at the tourist." Of course, as Barr knows, there are political hazards in offending the millions of American tourists now flocking abroad by putting controls on their spending...
...chief weakness lies in the nationalized 53% of Austrian industry: steel, aluminum, oil, chemicals, leather, paper and lumber, plus the deficit-burdened state railway. Hobbled by price control, high taxes to finance lavish welfare programs and a chronic lack of capital, both nationalized and private industry have been loath to expand into new product lines or even to modernize plants rebuilt after World War II with $1 billion of Marshall Plan aid. On top of that, much of private industry is fragmented into pint-sized firms-25% employ no more than 20 persons. Predictably, they turn out goods in small...