RUSSIAN v. U.S. GROWTH: The Latest International Numbers Game

IS the Russian economy growing faster than the U.S.'s? Budget Director Maurice Stans last week decried the "cult of growth," which would spur federal spending, unbalance the budget, and touch off another burst of inflation. But International Business Machines' Thomas J. Watson Jr. called for new federal taxation, if necessary, to combat Russian expansion (see State of Business).

What are the facts of Russia's claim to be outstripping the U.S. in growth? The one unarguable fact, Central Intelligence Agency's Allen Dulles recently told the Boiling "growth" subcommittee of Congress, is that...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!