Word: higher
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Dates: during 1950-1959
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...year beginning last July i, federal spending is estimated at $69.1 billion, up $4 billion from last January's estimate. Major factor in the rise: costs of the new soil bank and higher-than-expected expenditures to support farm commodity prices. More than offsetting that increase, however, was a $4.3 billion rise in the estimate of receipts, to $69.8 billion. Reason: a big spurt in personal income-and hence in anticipated income taxes-reflecting the continuing and growing prosperity. The net result for the budget is an anticipated surplus of $700 million, almost twice as much as predicted...
...bill rate, the money market's most sensitive indicator, rose .22% to 2.82%, a 23-year high. Soaring interest costs for long-term corporate bonds prompted would-be borrowers to postpone new issues; low-interest (3%), 40-year Government bonds sagged in value. While higher interest rates had been partially anticipated on the stock market, stocks dropped to the lowest point in seven weeks, then rallied at week's end. The Dow-Jon'es industrial average closed at 507.91, off 7.88 points for the week...
...another bite out of the dollar. As a result of the cost-of-living increase, 1,250,000 union workers will automatically receive 3? to 5? hourly wage raises under escalator contracts geared to the price index, thus 1) increasing the cost of the products they make, 2) encouraging higher wage demands by other workers, and 3) stoking up prices by pouring new money into the consumer market...
...April 1954, some 2,800 United Auto Workerswalked out of the Kohler Co. in Wisconsin, demanding higher pay and union powers that are more or less Standard throughout industry. In the 28 months since then, the strike has degenerated into the nation's oldest, ugliest major labor dispute, bringing vandalism, bloodshed and violence to the pretty beer-and-bockwurst city of Sheboygan (TIME, April 18, 1955). Unable to budge Kohler from its adamant stand, the U.A.W. is now moving the biggest boycott in U.S. Jiistory against the company. All over the land the U.A.W. is preaching to other unions...
...cost-of-living index, according to the Bureau of Labor Statistics. A patient must now pay 25% more for treatment than in 1950, as compared to an 8% rise in the overall price index. At the same time, benefit payments from health-insurance programs are running a fifth higher this year than last, are expected to go well beyond $2.5 billion. All told, reports the Health Insurance Council, some no million Americans are now covered by hospital insurance−6% more than were covered last year, nine times as many as were covered...