Word: rearmaments
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Suddenly the light turned green. Russia had some new propositions: it would drop its insistence on discussing alleged violations of the Potsdam agreement, drop its demand that German rearmament be a separate agenda subject, agree to talk not only about disarming but also about the level of existing armaments...
...their revolution over, the Socialists are condemned to preside over the financing and administering of a gigantic rearmament program. Nothing in their past as university dons or trade unionists, as pacifists or Marxists, equips them for this task. It is one of Britain's misfortunes that the Socialists, representing as they do so large a percentage of the governed, should lack enough experienced leaders who are fit to govern. There are able men among them, but as a party they are ignorant of finance, naive about foreign affairs and antagonistic to the military...
When Parliament reassembles, Winston Churchill will undoubtedly return to the attack. A juicy target: the April 10 budget. Chancellor of the Exchequer Hugh Gaitskell has warned that the budget news will be less pleasant than he had hoped because of British rearmament...
...January predicted a $2.7 billion deficit, the U.S. will probably end 1951's fiscal year in June with a cash surplus of possibly $5 billion. But this balanced budget-the third in 21 years-will be something of a fluke: tax collections are high and spending on rearmament has been slower than expected, and far less than actual appropriations. Estimated deficit (at current tax rates) for the fiscal year beginning next July: $13 billion...
...budget be balanced next year? This week the Committee for Economic Development offered a businessman's program to keep the U.S. out of the red and put rearmament on a pay-as-you-go basis. A special tax committee headed by J. Cameron Thomson, president of Minneapolis' Northwest Bancorporation, urged that 1) Congress immediately levy $10 billion in new taxes; 2) the Administration trim at least $3 billion, and possibly $6 billion, from its projected $74 billion budget for fiscal...