Word: fiscality
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Dates: during 1950-1959
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...months ago, Brazil's economic position steadily slipped. The cruzeiro free rate dropped from 70 to 147 to the dollar. A 14 million-bag mountain of surplus coffee piled up, and so did the balance of payments deficit. The U.S. promised help -provided something was done about the fiscal chaos. Last week Kubitschek replaced Alkmim with Lucas Lopes, a brilliant engineer who masterminded Kubitschek's ambitious development plan...
BUDGET DEFICITS will continue indefinitely. With deficit expected to reach $8 billion to $13 billion in fiscal 1959 (TIME, June 16), Budget Director Stans says: "I do not see any possibility of balancing the budget for several years...
...variety of finance systems -mostly vintage masterpieces of political patchwork-that the U.S. Census Bureau needs about eleven months to reckon a firm figure for the actual money spent by all states in any given year. Last week Census popped up with its tally on spending by states for fiscal 1957: a record $21,084,666,000, up 12% in the same year that federal expenditures (including state-run federal-aid programs) climbed only 4%. Since fiscal 1946, when legislatures set to work on the backlogged needs for schools and roads, hundreds of little hikes in taxes and debts have...
...winner was Sir Edgar Whitehead, the sober, pipe-puffing fiscal expert and onetime Central African Federation minister to Washington, who had succeeded Todd both as Prime Minister and as head of the Southern Rhodesian division of the United Federal Party. Though considered less impulsive on racial partnership than Todd, Sir Edgar, for all his moderation, barely won. Coming up fast on the right of Southern Rhodesia politics is the white supremacy Dominion Party, which until February had only four seats out of 30 in Parliament. Last week the Dominion Party actually led the popular vote...
WORST UNION YEAR in recent times is shaping up, owing to labor scandals and recession. In NLRB organizing elections among U.S. workers since last July, only 58% voted for unionization, v. 63% in fiscal 1957 and 83% in fiscal...