Word: deficit
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Dates: during 1950-1959
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...proof of the Frondizi policy pours in, nationalistic outcries have died. Oil imports, which caused a crippling trade deficit, dropped from $280 million in 1957 to $174 million this year, and will cease in 1961. As befits a nation ranking twelfth in the world in proven oil reserves, Argentina plans to be selling a yearly 25 million bbl. of petroleum abroad...
...when Erlander's Finance Minister submitted his new budget, reiterating Erlander's promise not to raise taxes, he did not explain how the government could cover its expected $490 million budget deficit without an inflationary increase in Sweden's soaring national debt (up from $2.4 billion in 1951 to $3.8 billion in 1958). Committed to a $90 million increase in welfare benefits (to $876 million) and unwilling to cut the $540 million for defense, Erlander had to abandon his tax-free dream. To the Riksdag he proposed a most unsocialistic solution: a 4% turnover (sales...
...adjustment, which set the tone of LÓpez Mateos' first year, was a tough and successful fight to save the peso from devaluation. In the first six months of 1958, under free-spending President Luis Ruiz Cortines, the country piled up a $96 million deficit abroad, a budget in the red by $66 million. LÓpez Mateos reversed course and slashed imports by $20 million a month by whacking public spending. The results: a severe crimp in the construction industry, a mild recession through much of the economy, but a nearly balanced budget and a favorable trade...
...steelworkers were paying off debts and replenishing savings before resuming buying. The biggest strike effect was on the national budget. At Augusta, Budget Director Maurice H. Stans informed President Eisenhower that lowered corporate tax collections traceable to the strike would turn the expected 1959-60 budget balance into a deficit...
...away games, but both times needed to come from behind to do it. The Yardlings scored three late touchdowns in mud and water at Dartmouth to win, 18 to 6, and also needed three eleventh-hour scores (thanks mainly to halfback Hobie Armstrong) to overcome a 6-0 deficit and finally triumph, 20 to 6, over Brown...