Word: budgeted
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Dates: during 1930-1939
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...Great Britain the Budget is an ancient red leather despatch box which rests on a table in the House of Commons and for most of the year serves as a convenient elbow rest for weary orators. In parliamentary language the British Budget is not "presented" but "opened" once a year. No opening is so well attended, for what the box contains vitally affects the pocket of every inhabitant of Great Britain. For the second time in his career, greying, long-necked Neville Chamberlain opened the Budget last week in a speech that took two hours and left most...
...announcement that there would be no provision for the sinking fund to retire the national debt, which last year bit ?32,500,000 out of the Budget. Penny a Pint. As far as the British taxpayer was concerned, there was only one encouraging word in the Budget, that was Beer. The income tax remained at its old basic tax rate of five shillings in the pound-25%, the highest income tax in the world, though Chancellor Chamberlain offered a slight sop by restoring the old method of collecting in equal half-yearly installments instead of demanding three-quarters...
Mayor James A. Curley of Boston is in Washington begging, arguing with his fellow Democrats for federal assistance to pull a fast sinking Boston from the muck of bankruptcy; New York Tammany grows wary since the city-budget does not balance; the loaning bankers demand security in the form of better government at a lower cost; and, of course, Chicago had seen nothing but deep red since 1928. Heavy fixed debts, relics of the anterior period of over-expansion plus the increasing tax delinquency problem, and the burden of welfare work and relief have all combined to effect this unhealthy...
During March, however, the Budget staged a small but significant rally. In that month for the first time since September, 1931 the Treasury took in more than it spent and closed its books with a hopeful little profit. March receipts: $283,185,773; expenditures: $282,367,864; surplus: $817,909. March 15 income tax payments, together with a drop in expenses, helped to break the Treasury's 18-month jinx...
Though it was not his doing, such a break during his first month in office heartened Lewis Williams Douglas, President Roosevelt's slick-haired, squint-eyed young Director of the Budget. The 1933 budget is a hangover from the Hoover Administration, a Republican inheritance beyond Democratic repair. Most of the Roosevelt economies will not show up until the 1934 budget (effective July 1) and upon them Budgeteer Douglas is concentrating with a heartless zeal that has bureaucratic Washington by the ears. Though he shakes his head mournfully and talks about his "sad job" which wrecks the hopes and happiness...