Word: trimly
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Dates: during 1950-1959
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...trouble." Probably the first place the economy-minded will look is at the $5.4 billion item for foreign aid ($4.3 billion military, $1.1 billion economic-technical), which is down only $100 million from this year. Another predictable congressional urge, especially in an election year, will be to try to trim taxes below the Eisenhower program, e.g., by raising the income-tax exemption from $600 to $700, for a loss of $2 billion in revenue...
Japan's Premier Shigeru Yoshida is well aware that U.S. spending will drop even more this year. To meet the situation he has ordered government departments to trim their budgets. But Japan's growing defense forces will make heavy demands on the treasury. So will the severe rice shortage resulting from Japan's recent floods (TIME, Oct. 12). Yoshida's 1954 budget, announced last week, totals 994.3 billion yen ($2.76 billion), which is 32 billion yen less than actual expenditures last year. But-significantly-the new figure is 33.8 billion yen higher than the original...
...Democrats are equally to blame. President Truman extended Civil Service protection to many who were Democratic patronage appointees, including a large number of positions not covered before. When President Eisenhower took office, his patronage commitments to Republican leaders were hampered by his campaign promise to trim government payrolls drastically. By using the presidential power to reclassify employees, he took Civil Service protection from many who deserved it, as well as from some of the Democratic appointees who did not. And the new ruling sets no limit on such abuses...
...economic strength, the truce in Korea had little noticeable effect, except on the stock market, which started to rise. Not till October was there any significant slackening in the steady rise of production; then it began to edge downward as the makers of autos, appliances, refrigerators, etc., began to trim their output, which in most cases had already exceeded their fondest hopes for the full year. Those who had feared that any step down from boom heights would mean a disastrous fall were proved wrong; the steps were orderly and gradual. Although prices officially showed little change, the shrewd buyer...
...several months settled in Detroit last week. This time it was not just the independents who were being hurt. Chrysler Corp., hard hit by the slow cleanup sale of its 1953 cars, laid off some 9,200 workers. Nash has already announced an eight-day shutdown to help dealers trim inventories; Studebaker is shut down until early next month; Hudson and Packard cut their work forces. Still unaffected are General Motors and Ford Motor Co., both of which are planning higher output of their cars in the first quarter of 1954 than in the same period of 1953. The Ford...