Word: million
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Dates: during 1940-1949
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Defense Secretary Louis Johnson's big budget-pruning shears were clipping the U.S. Navy where it hurt-in the wings. Aiming at a cut of nearly $1 billion in the current budgets of the three armed services, Johnson had ordered the Navy to lop off $353 million as its share and let the admirals decide where to do the trimming. Last week the Navy was obediently dismantling 21% of its air arm to meet the new ceiling. Twenty-eight Navy and seven Marine combat squadrons were being withdrawn from service; operations were being reduced at six air bases...
...been given time to do a gradual job, there was not much doubt that the Navy could have melted away $353 million in fat without nicking the muscle. But by demanding the cutback immediately, Johnson had forced the Navy to chop away at the only big target in sight. As a result, Louis Johnson's big plans for economy were beginning to look more like a blueprint for disarmament. Wrote Columnists Joseph and Stewart Alsop last week: "Wartime control of the Mediterranean has probably now been cast away . . . The security of the United States and the safety...
From the day they first began working together in an advertising agency 24 years ago, William Burnett Benton and Chester Bowles blended like benedictine and brandy. Within eleven years Benton & Bowles, still in their 30s, had built an ad agency of their own into an $18 million-a-year business...
...long-range objective is simply the fusion of Western Europe's separate, relatively autarchic economies into one large, American-style free trading area. Only such a single market (with an estimated 270 million customers) could sustain efficient mass production in Western Europe; it would also force Western Europe's flabby protectionist capitalism into a new, competitive way of life...
...towns which cherish their professors and their poets, the land ruled by Konrad Adenauer still bears the brutal stamp of total defeat. It also bears the pale, pinched look of poverty. The free-enterprise economic policies, put to work under military government, have led West Germany's 46 million hard-working people from near-starvation a long way toward recovery. But the country's economy is still far from healthy. Most of the shops are full, but intelligent Germans tell Americans: "What we see in the store windows are your dollars." It is nearly $1 billion a year...