Word: chartes
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...nearly everybody but Robert Anderson, a balanced 1960 budget seemed a hopeless undertaking. Over the prosperous Eisenhower years, the Administration had achieved a budget surplus only twice, in fiscal 1956 and 1957 (see chart), despite all the balanced-budget promises of the 1952 campaign. With the 1959 budget a gaudy $12.5 billion in the red, and the economy still convalescing from the recession, sober heads in the Administration argued for aiming toward a practical goal, e.g., holding the 1960 deficit down to a few billion...
...research, however, will start with the Class of 1964. After pinpointing the psychological variables this year, the members of the project will choose a sample group from '64 and follow them through four years at Harvard. By means of tests, interviews, and the like, the researchers hope to chart the changes in each individual...
...financing at competitive rates in the short-term market, to which private borrowers are turning in increasing numbers to get their money. The Treasury has thus sopped up billions-and within a year forced up the rates on short-term loans to nearly double their previous level (see chart). "The Secretary of the Treasury doesn't want a printing press [for money] in his office," says Alexander, "but the practical effect of the rate ceiling may be to put one there...
...theory, overall policymaking is done by the top-level National Aeronautics and Space Council, chaired by the President himself. But NASC meets seldom, spends much of its time deciding which organization-chart rectangles various projects belong to. The Mercury man-in-space program, for example, has migrated during the past two years from the Air Force to ARPA to NASA, inevitably losing momentum with each shift...
...wants changed promptly is the discrimination by European nations against dollar imports. Such restrictions may have been necessary in the early postwar years, when these countries had a shortage of dollars. But now, said Anderson, prosperous European nations with big stocks of gold and short-term dollar assets (see chart) no longer "have any balance-of-payments justification for discriminatory restrictions." Unless Europe cooperates by eliminating such restrictions, Anderson hinted, the U.S. may have to take action-perhaps a cut in foreign aid-to correct the balance...