Word: budgeted
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Dates: during 1930-1939
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Largo Caballero: "We have balanced the budget...
...Social Security Plan is virtually a separate business, like the Post Office. In the budget the revenues of the Post Office do not appear, and of its expenditures only $30,000,000, its net deficit. On the same basis Social Security taxes are not really Government revenues, and the only real Social Security expense is the system's net deficit, $61,174,000 for 1938. However there is one big difference between selling annuities and letter-carrying: Social Security payments will be far smaller than its tax collections for many years. In 1938 collections will exceed actual payments...
Last week, not in his budget message but in a press conference held before he sent it to Congress, President Roosevelt intimated that he thought it would be foolish to build up such a huge reserve. For the time being he would be content to let the reserve pile up, but after it has got a start, adopt a "pay-as-you-go" policy, presumably reducing Social Security taxes so as to collect no more than was paid out in pensions...
Debt. Biggest news in the President's budget was a figure hidden halfway through his message: the sum which he expects the public debt to reach next June at the close of fiscal 1937, the sum at which he hopes it will stay during fiscal 1938, the sum from which he hopes it will decline thereafter, the ultimate pinnacle to which the New Deal plans to carry the U. S. Government. This mystic number...
Athletic Director Bingham's annual report to President Conant again emphasizes the necessity for drastic economics in the athletic program. Although the budget was balanced this year without dropping any sport from intercollegiate competition, Mr. Bingham declares that such action will be necessary in some sports as expense reduction must continue even though it is at a minimum under the present scale of operations. For every reason it would be unfortunate to lower the minor sports to an intramural status, so the funds must in some way be procured...