Word: targets
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Dates: during 1950-1959
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...advance of the American Economy from 1949 to 1953 has created a swell of optimism with respect to the possibilities of future growth and expansion. A Gross National Product of $500 billion, six to eight years hence, has frequently been suggested. Recently President Eisenhower himself referred to some such target...
...setting up of such a target represents a major advance in economic thinking. But there is still a school of economists who believe that the rate of advance achieved in 1949-53 cannot and should not be aimed at as a matter of deliberate policy. More explicitly, they believe that governmental policy should be directed toward the prevention of a collapse, but not toward the maximum potential rato of growth and expansion...
...Remember this: the speed of the Germans' V-2 ballistic missile as it plunged down on its target was over 3,500 miles an hour. Can you imagine intercepting it? Two of us might as well stand at opposite ends of a hall and pitch needles at each other in the hope that the needles might collide...
Behind his words was the apparition nicknamed IBM (for intercontinental ballistic missile), which is hurled hundreds of miles into the stratosphere to fall on its target. An IBM could super-whoosh along at 4,000 to 5,000 miles an hour and cross the Atlantic in as little as 30 or 40 minutes. Automatic navigation on the stars should keep the error at target within eight miles, a near miss with an atomic warhead...
When they were finally sure that the voters had given them control of Congress, Democrats on Capitol Hill set out to force the Atomic Energy Commission to do their bidding. Their target was the Dixon-Yates power contract (TIME, Nov. 8), up for consideration before the Joint Congressional Atomic Energy Committee. They could not prevent the signing of the contract, but they did threaten to nullify it next year. Announced Senate Democratic Leader Lyndon Johnson: "We expect that . . . the Dixon-Yates thing can be given a quiet burial...