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Apparently gone were all hopes of a balanced budget in this generation. In a budget that was itself a great fact-biggest in peacetime, second biggest of all U. S. history-this great fact stood out like a large sore thumb. The budget was a "document full of human meaning," as the Newark News noted. Like the budgets of Mr. Average Citizen, it was full of unjustifiable errors of judgment, of expenses borne out of habit, of big installments still being paid on past mistakes. Like private budgets, too, was its patient, powerless, hopeful meaninglessness: there was no magic...

Author: /time Magazine | Title: FISCAL: Up the Roller Coaster | 1/20/1941 | See Source »

Handsome, fiftyish James B. ("The Messenger") Schafer has a simple rule of thumb: "When you serve people you create obligations. Then the money comes...

Author: /time Magazine | Title: NEW YORK: How the Money Came In | 12/30/1940 | See Source »

...which had loudly applauded Finland's gallant fight last winter, turned its sympathies to new underdogs in the fall. Though free and independent, Finland was thoughtlessly classed with the conquered and occupied countries of Europe. Its relief problems were loosely lumped with those of nations under the Axis thumb. Many people misguidedly feared that help for unblockaded Finland, which was in fact in the same international position as Portugal or Switzerland, might hinder Britain and aid Hitler...

Author: /time Magazine | Title: FINLAND: KALLIO'S DUTY DONE | 12/30/1940 | See Source »

...nothing else, was acute. Men might rage or despair or work furiously, but they couldn't seem to get planes to Britain. Even the 279 planes were 75 more than had been shipped in September. And the President had evidently altered his 50-50 rule-of-thumb policy of division of airplane production between Britain and the U. S. For all production of the best -in fact, the only-pursuit plane made in quantity in the U. S. was last week stopped for the Army, diverted wholly to Britain. Curtiss-Wright's seven...

Author: /time Magazine | Title: THE PRESIDENCY: What of the Night? | 12/23/1940 | See Source »

...spectators watched last week's championship race. Round & round the little "hot-irons" whirred-motors whining, sputtering, filling the air with the peculiar odor of burning castor oil, dear to the nose of every auto-racing fan. No one has yet been killed on a Tom Thumb speedway, but accidents are not infrequent. Excited spindizzies have been known to get their arms or legs fractured by a whizzing car; tires have blown off into judges' faces; many cars have blown...

Author: /time Magazine | Title: Sport: Spindizzies | 12/16/1940 | See Source »

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