Word: halt
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Dates: during 1950-1959
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This fact was very much in the President's mind as he fended off demands for reckless action to halt the downturn by any means, at any cost. Labor, business, state and local governments, all were calling for action from Washington, and doing very little on their own to help fight the recession. Symbolizing the panic pressures, A.F.L.-C.I.O. President George Meany, United Auto Workers President Walter Reuther and other top labor leaders handed the President a damn-the-deficits plan that included just about everything except an offer to join with management in a hold-down on wages...
...possible. That possibility was best formulated more than a year and a half ago by John Foster Dulles: "I believe that the role of the U.S. is to try to see that that [anticolonial] process moves forward in a constructive, evolutionary way, and does not either come to a halt or take a violent revolutionary turn ... I suspect that the U.S. will find that its role . . . will be to try to aid that process without identifying itself 100% either with the so-called colonial powers or with the powers which are primarily and uniquely concerned with the problem of getting...
...more goods than expected. U.S. Steel is still budgeting $665 million this year for further expansion; Inland Steel is going right ahead with its $280 million program. Said Big Steel's Vice President and Comptroller W. A. Walker: "It is not prudent or intelligent of management to halt expansion when things are poor. It is easier to build now. You get more for your money, although prices aren't down too much. But it's easier to get materials...
...some help, though such highly publicized recession cures as a speedup in public works are overstated benefits. "A new post office in Podunk doesn't do much for the skilled man who is unemployed in Detroit." More important, said McDonnell, who once argued that the best way to halt inflation in the U.S. economy was to increase taxes on incomes below $5,000, is a program of "sensible tax reforms." McDonnell wants temporary tax relief for all income groups and for corporations as well. Only then, says he, can "we increase the incentives for business risks and release...
...policy. ¶Italy's gross national product increased more than 5% last year, is expected to continue to climb; though the industrial production index in January was down seasonally from December, it still topped January 1957. Housing starts were down, but Italian leaders feel that the U.S. will halt its recession, avoid any effect on the Italian economy...