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Beltway Billions Go Up in Smoke: Officials Fail to Plug $500 Million Hole

On a chilly February evening in 1953, Washington D.C. officials gathered to discuss the city’s $350 million public works improvement program. The meeting, which lasted three hours, was meant to inject some much-needed optimism into the project’s shaky finances. But sources close to the matter reveal that the real focus was on dodging a $500 million financial bullet.

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