Word: deficits
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Dates: during 1950-1959
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What the National Education Association calls for is a "significant" inoculation of federal money. The Government is already spending $2 billion yearly on education. A full dose would be strong medicine. If the "educational deficit" is really $9 billion, it is equal to more than 10% of the entire federal budget. No Congress would dream of spending that amount without peering into curriculums, and the prospects are not cheery...
...schools are potential firetraps ; some are still using gaslight; nearly 75% of the high schools are too small to pay for anything resembling a nuclear-age curriculum. And though wise men urge the country to spend at least twice as much money for education, the U.S. maintains an "educational deficit" estimated at anything from $6.8 billion to $9 billion yearly...
Unless Congress acts, the troubles of the Treasury and the money market will worsen in October and November. Then, to raise about $7 billion to finance the seasonal deficit and another $8.9 billion to meet debt coming due, the Treasury will have to go to market with more short-term issues...
...part -but only a part-of the squeeze on money. Because of the new boom, there has been a large rise in business loans, which have soared from a recession low of $52 billion in May 1958 to $58 billion last month. Heavy Government financing ($13 billion deficit last year), a record volume of state and local fund-raising in the first half of 1959, and a jump in consumer credit have added to the competition for funds. Following the surge, interest rates on bank business loans in 19 major cities went from 4.17% in 1958's second half...
...Matter of Definition. Soustelle wants to do more than wipe out France's dollar deficit. He hopes to make France a major oil supplier to the entire 168 million people in Western Europe's new Common Market nations, feeding oil by tanker into the southern end of a projected 36-inch pipeline from Marseille to Karlsruhe. Sahara's natural gas might be transported to Europe either by tankers specially built to carry it in liquid form or by a trans-Mediterranean pipeline through Spain. And Algeria itself will benefit from a feeder line to carry gas from...