Word: budgeteering
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Dates: during 1960-1969
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...Under a new accounting system that includes all federal outlays and receipts, including for the first time those from social security, Medicare, highway funds and other trust funds. Under the old system, by contrast, expenditures under the last budget were listed at $147.5 billion rather than $175.6 billion...
...York, the state bite has been especially feral in recent years, largely because of Governor Nelson Rockefeller's ambitious health and education programs and New York City's staggering fiscal woes. Last week New Yorkers winced again when Rockefeller presented his 1968 budget to the state legislature...
Rocky's first budget, in 1959, amounted to just over $2 billion. Since then he has impressively expanded the New York State University system from 42 campuses to 59, with an enrollment of 139,149 (TIME cover, Jan. 12). He has progressively beefed up welfare, highway construction programs and aid to the hard-pressed municipalities. But the costs have swelled as dramatically as the services...
Last week Rockefeller proposed a budget of $5.5 billion-an increase of nearly $856 million over last year, mainly to finance primary and secondary school education and aid to dependent children under welfare and Medicaid...
Though he sought a stiff curtailment of Medicaid payments, the new budget, if approved, will require a 20% surcharge on state income taxes, a 10-a-gallon rise in gasoline taxes, a 100-a-fifth increase in liquor levies, a rise of up to 50% in corporation and utilities taxes, and at least five other significant levies. Together, the new taxes must raise $494 million above last year's revenues. Said Democrat Anthony Travia...