Word: shrink
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...President Kennedy himself has expounded the Administration concept in recent speeches and in messages to Congress, the budget is in the red because a slack economy does not produce adequate federal revenue. The Administration cannot eliminate the deficit by reducing expenditures-that would only shrink "aggregate demand" for goods and services, thereby making the economy even slacker. So what is the answer? It is to cut taxes while keeping federal expenditures high. The stimulating effects of tax reduction would increase incomes and profits, eventually making it possible for the Government, even at lower tax rates, to collect enough revenue...
...programs. In fiscal 1964, the Administration presupposes, the supply of cotton will decrease (because of a reduction in cotton acreage allotments) and the demand will increase (because of a pending Administration bill that would, in effect, lower the price of cotton to U.S. manufacturers). Accordingly, the Administration hopes to shrink cotton-support outlays by $200 million and, in addition, dispose of $500 million worth of the CCC's present $1.7 billion cotton inventory. If things work out, the CCC's ledgers will show a net improvement of $700 million on cotton transactions...
Lyttleton figures that the earth's compressible liquid core, which can be studied by means of earthquake waves, has caused the earth to shrink about 400 miles in diameter. Some 20 million square miles of crust have been tucked away in mountainous folds and wrinkles. How long this process will continue, Lyttleton does not know. But mountains are still rising, and Lyttleton estimates that if the entire earth were to liquefy, it would lose another 50 miles of diameter...
...atop a big budget deficit, Kennedy counters with sophisticated rhetoric. The basic reason for the deficit, he says, is not that the federal budget is too fat, but that taxes are too high. Such taxes, the argument runs, drag down the economy, reduce corporate and personal income?and thereby shrink federal revenues. Tax reduction will get the economy moving faster, increase profits, incomes and tax revenues. Accordingly, argues the President, the increased margin of deficit resulting from tax reduction in 1963 would be a "temporary deficit of transition," a sort of investment in a sunnier future of faster growth, smaller...
Echo & Jet. Overall, toymakers predict a record Christmas this year ("a billion-dollar season," says Arnold Bolka of Manhattan's Toy Guidance Council) and are spending $15 million on TV advertising. However, discount selling may shrink the profits of many dealers who cut prices as Christmas nears. Among the most-asked-for items that will find their way beneath many a seven-foot vinyl (flame-resistant, colorfast, $9.98) Christmas tree this season...