Word: cutback
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Dates: during 1940-1949
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...been given time to do a gradual job, there was not much doubt that the Navy could have melted away $353 million in fat without nicking the muscle. But by demanding the cutback immediately, Johnson had forced the Navy to chop away at the only big target in sight. As a result, Louis Johnson's big plans for economy were beginning to look more like a blueprint for disarmament. Wrote Columnists Joseph and Stewart Alsop last week: "Wartime control of the Mediterranean has probably now been cast away . . . The security of the United States and the safety...
...Commons the Prime Minister brought his retrenchment program out in the open. Where the members had expected a mountain, it was only a mouse. The overall pruning of government expense, Attlee said, would amount to ?250 million ($700 million) of which ?140 million would be accounted for by a cutback in capital investment-schools, hospitals, highways, fuel and power facilities, etc. In addition, residential housing and other building would be cut back by ?70 million. The outlay for education would be trimmed by ?5,000,000, resulting in costlier school lunches (up 1?) and restricted bus service...
...nation was treated last week to the unique sight of an Administration official really swinging an economy ax. Secretary Louis Johnson announced a cutback in Defense Department jobs which he thought would ultimately save the country $500 million a year...
...Labor slogan was "retrenchment." It would mean a halt to further expansion and perhaps a cutback in social services, wage freezing and other painful economic measures, all designed to strengthen British competitive power in the dollar market. What retrenchment really added up to was an attempt to inject a strong dose of competition and incentive into an increasingly security-minded Britain...
They also hope for a break to develop from the general uneasiness that now characterizes Venezuelan life. Some of the uneasiness stems from last winter's 20% cutback in oil production which threw hundreds out of jobs. Even more has been caused by the junta's failure so far to fulfill its promise to restore constitutional rights and to free political prisoners...