Word: fasts
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Dates: during 1950-1959
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Result: the Senate and House of Representatives agreed last week upon a "compromise" defense budget of $33.75 billion plus for fiscal 1958, billions less than the President's original minimum request. Had Congress cut too far, too fast into the muscles of everybody's security? Had the Administration trimmed its judgment on national security to appease congressional critics...
SMALL-CAR MARKET is growing so fast (TIME, July 15) that American Motors Corp. will bring back economy-sized (six-cylinder engine, 100-in. wheel base) Rambler in 1958 after four-year lapse. New car will be stablemate for company's more luxurious (108-in. wheel base) Rambler, whose sales so far in 1957 are 35% ahead of last year...
TREASURY TAX LOSS on fast write-offs for new defense industry will total between $4.3 billion and $4.9 billion by year's end. Though taxes on write-offs for $37.8 billion worth of defense expansion since 1950 will be paid in later years, Treasury will wind up with net loss of $530 million to $601 million if maximum corporate tax rate drops from 52% to 47% next June...
SHIPPING TROUBLES are fast knocking U.S. out of its postwar role as world's No. 1 oil tanker operator. To avoid high costs at home, American shipowners register so many new vessels under foreign flags that U.S.-flag fleet now totals only 19% of free world tanker tonnage v. 60% in 1945. U.S. will fall to fourth spot (behind Britain, Norway, Liberia) by 1961 unless trend is reversed...
These byproducts of prosperity are felt most strongly in Western Europe, where industry is highly developed and consumer demand high. In many nations, consumers have been spending so much money that the relative level of effective savings, traditionally the most important pool of new capital, has not increased as fast as the economy as a whole. Another problem is competition between Government and private industry for available funds. Great Britain's current investment program for the nationalized railway and fuel industries alone totals $1.5 billion, v. $2.4 billion for the entire privately owned manufacturing industry...