Word: foreign-aid
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...another Congressional action last week, Arkansas' J. William Fulbright and his Senate Foreign Relations Committee approved (10-7) Kennedy proposals to bypass annual congressional authorization for foreign aid, and to borrow $8.8 billion from the Treasury for a five-year program. The committee authorized nearly everything the President wanted in the way of funds this year; its tremendous influence on Capitol Hill likely will shove the foreign-aid bill neatly through both houses. With the big bill for foreign aid and another big vote for defense coming up, Jack Kennedy was just as glad...
With a single-mindedness so intense that one participant described it as "ferocity," Anderson brushed aside the promising beginnings of the new billion-dollar German foreign-aid program (TIME, Nov. 28). Foreign aid, he told Adenauer and Erhard, was "not urgent"; what the U.S. needed was cash, and it needed it faster than any foreign-aid program could deliver. Anderson followed this up with further demands that Germany 1) start paying immediately a good part of the U.S.'s present share (37%) of the cost of jointly run NATO facilities such as pipelines, depots, etc.; 2) start easing immediately...
...with all other NATO members in some device through which Germany could contribute to paying such NATO costs (perhaps up to $150 million, his aides indicated). Germany was willing to take over immediately the cost of some existing Development Loan Fund projects, paying money directly to U.S. exporters for foreign-aid projects long since planned in Washington. He also promised that Germany would 1) "consider" easing restrictions on imported U.S. canned goods and poultry, and 2) "consider" placing in the U.S. armaments orders hitherto in tended for German industries...
...dramatic change of fiscal heart last week was in West Germany. On the eve of the Anderson-Dillon visit, Chancellor Konrad Adenauer abruptly cut his country's cackle about being short of spare cash: his Cabinet hastily announced "complete agreement" to launch West Germany's first real foreign-aid program in 1961. Under the projected billion-dollar program, Germany will at last make available to the capital-hungry underdeveloped nations a significant hunk of the record $7.4 billion gold and hard-currency reserves accumulated during the spectacular German economic comeback...
Grim Gratitude. Washington, which has poured out $73 billion in aid since 1945, including more than $3 billion to Germany, was grimly grateful for Bonn's patched-together foreign-aid package. But for all its potential value in helping meet the insatiable needs of the new Afro Asian nations-which the U.S. cannot hope to meet alone-the German program would not reduce this year's U.S. international-payments deficit in the slightest; it was, a U.S. spokesman laconically noted, "a beginning...