Word: trillion
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...verbal onslaught was the most dramatic sign yet that the days of free wheeling and free spending by the military are over. In Reagan's first term, Congress heeded the President's call to rearm America by giving the Pentagon $1.1 trillion to spend, a 36% increase after inflation. But irked by scandals over $436 hammers and $600 toilet seats and squeezed by the burgeoning budget deficits, Congress has increasingly begun to question whether the U.S. is getting its money's worth in defense spending...
...commission appointed to look into charges of Pentagon waste and mismanagement, concluded that "fundamental" changes should be made in the way the Pentagon buys weapons. On Capitol Hill, House Armed Services Committee Chairman Les Aspin launched a series of hearings addressing the question, What have we got for a trillion dollars? Aspin's answer: not enough. In a 25-page report, the Wisconsin Democrat cited "skimpy improvements in the U.S. defense posture despite the huge increases in defense spending over recent years...
Stories begin in 1984 about Debt growing to $2 trillion. Scared to death. Back on the Debt trail. Second assistant secretary now home from Japan. He referred me to an office across 15th Street that is part of Treasury. Found a genial bureaucrat there, the kind we love to kick around. Turned out he was the first guy with a real clue. He explained that the Bureau of the Public Debt is a huge department with 2,000 employees and a $200 million budget. I asked him which one of those people actually writes down the National Debt...
...hundreds of companies and universities competing to work on the project could easily rename it Star Bucks. Experts estimate that fulfilling President Reagan's vision of building an impregnable defensive shield against nuclear attack, if it is possible at all, could ultimately cost anywhere from $400 billion to $1.2 trillion. It would thus become the biggest bonanza ever for American businesses and educational institutions...
This spring the U.S. became a debtor nation for the first time since 1917. Raymond Dalio, a Connecticut-based economic consultant, estimates that the country's net foreign debt could grow to $1 trillion by 1990. At home, consumers remain hefty borrowers. Installment loans, which account for 22% of household borrowing, jumped 21.3% during the twelve months that ended last April, the largest gain since the 1950s...