Word: inking
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Dates: during 1950-1959
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...down its gloomy forecasts of a $12.2 billion budget deficit for fiscal 1959. ending next June 30. Reason: budget experts figure that the economy's bounceback toward robust health will raise the 1959 federal-tax take at least $2 billion above September estimates, will thereby hold the red-ink splash to $10 billion or less...
Floating upward on a tide of red ink, the national debt reached a new alltime high of $280,851,429,657.13 in late October, the Treasury reported last week. Prospect: the debt will keep floating higher until heavy tax payments start rolling in next January...
...automakers, hardest hit by the recession, last week gave out the bad news for the third quarter. Ford reported a loss of $21.6 million, bringing the deficit for nine months to $16.2 million, v. $229.5 million profit in the same period last year. Chrysler's ink was even redder: its third-quarter loss of $20-million pushed the loss for nine months to a total of $45.2 million, v. a $103.6 million profit in 1957. Studebaker-Packard, which lost $12.4 million in the first nine months of 1957, lost $22.5 million through this September...
...enquire why you ask?" she replied, dipping the pen in some black ink...
...recovery from the recession, even the hardest-hit industries are showing sharp improvement. Last week the laggard railroads were back on the track: carloadings rose to a 1958 high of 667,277 cars, only 8% under 1957. Several of the carriers deepest in red ink nudged into the black for the first time in almost a year...