Time Clock, Nov. 26, 1956

FEDERAL SPENDING will jump $2 billion to $3 billion next year, says Grover Ensley, executive director of joint economic committee of Congress, but there still will be budget surplus of $4 billion for 1957. Predicts Ensley: gross national product of $430 billion to $440 billion, prices up 2% to 3%, business investment up 8% to 10%, housing starts down to 1,000,000.

EXPANSION PROGRAM, biggest in history, will be carried out next year by Bell Telephone System. Bell will spend $2.5 billion in 1957 v. $2.2 billion this year for new telephones, cables, dialing systems, will have to raise $125 million monthly...

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