Word: dams
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...disability benefits at the age of 50, forced on the Defense Department more money ($900 million) than it wanted for the Air Force. The two bills for which the 84th will be longest remembered: the $33 billion highway construction program, biggest public works project in U.S. history, and the dam project to bring vital power and water to the hungry, thirsty Upper Colorado River Basin...
...House and Senate were benumbed and confused when they came to the final vote on foreign aid, it was not too surprising. Early in the session the Administration had hinted broadly at a bold new program for long-range economic aid, had cited Egypt's Aswan Dam as a prime example of a worthy long-range project; now the Aswan Dam program had blown sky-high in the latest Middle East explosion. Never did the Administration present a coherent world economic policy. In May NATO's retiring commander General Alfred Maxmilian Gruenther testified grimly on the urgent need...
...Dictator Gamal Abdel Nasser early last week as he presided over the dedication of a new Cairo refinery. While Soviet Ambassador to Egypt Evgeny Kiselev nodded approvingly in the audience, Nasser spluttered his anger at the U.S. withdrawal of its offer to build the billion-dollar Aswan Dam, and branded as "lies" the U.S. explanation that it acted because of the shakiness of the Egyptian economy (TIME, July 30). Choking on his own fury. Nasser promised: "Egypt is going ahead with the High Dam...
...Nasser had already pledged his country's cotton crop for years to come to pay for his Communist arms. Moscow last week made it plain that it was not willing to finance the dam, even though it had let Nasser blackmail the West with the threat of a Soviet counteroffer. Now Nasser stood exposed. Even his brother Arabs privately agreed that he had asked for the trouble he was in. All this was vexing to 38-year-old Gamal Abdel Nasser, who is a proud...
Then Nasser delivered his blow: "We shall build the High Dam as we desire ... The annual income of the Suez Canal is $100 million. Why not take it ourselves? In the name of the nation, the President of the Republic resolves that the World Maritime Company of the Suez Canal will be nationalized ... At this very moment some of your Egyptian brethren are taking over the Canal Company...