Word: billioned
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Dates: during 1960-1969
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...Democratic leaders announced that they intended to ignore Nixon's warnings and might even try to override any presidential veto, though it is questionable whether they can muster the required two-thirds vote. Accordingly, they sent Nixon the mine-safety bill despite his threat. Though Congress appropriated $19.9 billion for HEW-roughly the amount Nixon requested-an additional $1.1 billion in spending is almost certain to be added later. Thus, the move was not likely to influence Nixon. Similarly, though a number of ornaments were removed from the tax bill that emerged from a rough-and-tumble Senate-House...
...appropriations bills, it was plain that the lawmakers' priorities differed considerably from Nixon's. In three areas-agriculture, public works and transportation-they added a total of $893 million to the funds originally sought by the President. In the other ten, they appropriated a total of $7.7 billion less than requested by Nixon...
Almost the entire cut came in the form of a $5.6 billion amputation from the defense request. It first appeared that Nixon might have to settle for $1.1 billion less than he asked for in foreign aid. But late Saturday, even this appeared in doubt as the Senate rejected the $1.8 billion foreign aid money bill. The Senate action was an angry response to the House, which insisted upon granting $54.5 million to Nationalist China for jet fighters and $50 million in military aid to South Korea...
Despite Nixon's attempt to blame Capitol Hill for encouraging inflation, Democratic Congressmen argue that they will ultimately appropriate at least $6.8 billion less than the $143 billion requested by the President. That figure is misleading, since it does not take into account such continuing commitments as the increase in Social Security benefits. But the fact remains that so far Congress has trimmed actual appropriations by a substantial sum. Accordingly, Wisconsin's Democratic Senator William Proxmire concluded that the White House was guilty of a "snow job" when it complained that "Congress is spending money like a drunken...
Economists tend to agree on the business profile for 1970: a rise in jobless ranks to 4¼% or 4½% of the labor force; 4% price inflation, probably tapering off toward year's end; sluggish 2% real growth in the over-all economy, which will expand from $933 billion to $985 billion or $990 billion. A few sectors of business anticipate substantial difficulties. Auto manufacturers (except Ford) have already curtailed production a bit, and some retail merchants figure that they will have to hustle to maintain their sales volume. "The consumer is beginning to stiffen up," says Ralph Lazarus, chairman...