Word: midyear
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
...detailed plans for several billion dollars worth of public-works projects, ready for sending to Congress on short notice. But the Administration saw no reason to abandon its long-standing basic position: I) eased credit, stepped-up defense spending and underlying economic strengths will get things perking up by midyear, and 2) drastic, too-much-too-soon recovery programs might fuel a new spiral of inflation. The decision: a reassuring statement by the President, plus a token public-works program...
...that, in the opinion of his economic advisers, "it is reasonable to assume some upturn sometime toward the middle or just after the middle of the year." To a newsman who asked whether the Administration might push for a tax cut if the economy failed to perk up at midyear, Ike replied yes, added that there is such a thing as "going too far with trying to fool with our economy...
...yearly Economic Report, drafted with the help of his Council of Economic Advisers, reiterated that 1957 was a year of record-setting prosperity. Total industrial output equaled the 1956 record. Gross national product ($434 billion) and total personal income '($343 billion) surpassed 1956 levels by 5%. At midyear the employment total stood at a new record high of 67.2 million, and the last quarter's "moderate" decline still left employment at 64.4 million, a higher mark than the U.S. reached in any year prior...
Despite major increases for defense and education, the Administration expects that the record budget can be kept in balance without tax increases. On the revenue side it will recommend continued excise taxes, will gamble that a business upswing by midyear will guarantee a higher level of tax revenue than in 1958. On the expense side, the Budget Bureau will scissor administrative non-defense spending; e.g., the Interior Department will start no new dam or reclamation projects (with the possible exception of the $400 million-plus Colorado River storage dam at Glen Canyon, Ariz.); nonessential defense spending for "chrome trimmed" military...
...autos all were down, although much of the auto drop was due to the model changeover, and the Fed itself noted that November production schedules indicate a "marked recovery." Bank loans to business were also down in October to a total $31.3 billion, a decrease of $796 million since midyear v. an increase of $1.2 billion in 1956 during the same period. The climb in the cost of living was also slowing down. Still another factor was personal incomes: down $1 billion between September and October to an annual rate of $345.5 billion, though still 3½% higher than October...