Word: fractionalism
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Dates: during 1960-1969
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...President's Committee on Equal Employment Opportunity, the National Aeronautics and Space Council and the Peace Corps National Advisory Council. He sits in on meetings of the Cabinet and is a member of the National Security Council. But all of this together adds up to only a fraction of his old power and influence. He is free to speak up, but nobody, really, has to heed him anymore...
...drill around explosive anesthetics without fear of sparks. But whereas most dental drills are controlled by a foot brake, the new model has a fingertip on-off control. It can turn up to 100,000 revolutions per minute and come to a dead stop in a fraction of a second. Its carbide burs will drill a neat hole or, if moved sideways, work like a power saw. The burs develop no heat as they drill or slice swiftly through bone...
...more of almost everything than the current budget-including red ink. Total expenditures: $98.8 billion, up some $4.5 billion from the current fiscal year, and $500 million more than the Government paid out in the peak spending year of World War II. Indicated deficit: $11.9 billion. Only a fraction of that deficit is attributable to the tax cuts that the President called for in his State of the Union message delivered earlier last week. Assuming that tax reduction would stimulate the economy, the Administration calculates the "net revenue loss" during fiscal 1964 at $2.7 billion. Thus, without any tax revision...
Kennedy seemed to feel that there was no great harm in the bloating national debt. "The ability of the nation to service the federal debt rests on the income of its citizens, whose taxes must pay the interest. Total federal interest payments as a fraction of the national income have fallen from 2.8% in 1946 to 2.1% last year. The gross debt itself as a proportion of our G.N.P. has also fallen steadily-from 123% in 1946 to 55% last year. Under the budgetary changes scheduled this year and next, these ratios will continue their decline...
...more, and partly because they are already too deeply committed to back out, some U.S. companies are continuing to expand in Latin America's economic trouble spots. California's FMC Corp. recently completed a food machinery plant in Argentina-but is operating it at only a fraction of capacity. Other U.S. companies are holding on in the hope that the business climate in Latin America will eventually improve. In the meantime, notes Chase Manhattan Bank Economist William Butler, "it is difficult for an American firm to justify sending new capital there...