Word: budgeteering
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Dates: during 1960-1969
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Still-not entirely to his distress-Freshman Percy has attracted a lot of expensive attention, the kind that can quickly devour the $279,306 annual office budget that he is allowed by the Government. An average of 1,500 letters a day cascade into Percy's office; his secretaries answer 200 telephone calls daily-a volume probably matched only by that of New York's Senator Robert Kennedy. He has traveled 150,000 miles to speak in more than 60 cities. Having exhausted his regular budget, Percy has poured his $30,000 senatorial salary and about...
...past." The British learned a little bit more last week about just how much they will be asked to sacrifice. Partly in order to get a $1.4 billion credit from the International Monetary Fund, Britain vowed to continue tight wage controls, promised to make heavy cuts in its budget and to take any further steps necessary to reverse its balance-of-payments deficit...
...characters, and not even the beginnings of a bedroom scene. It certainly will be on nobody's Christmas list, except perhaps that of the Soviet embassy, whose operatives religiously study it as the best single guideline to U.S. frustrations, strengths and dreams. This remarkable volume is the federal budget (478 pages; Government Printing Office; $1.50), and right now it is a lively subject of national debate and confusion. Practically everybody agrees that the federal budget is bloated, but practically nobody can agree on just where to cut. It is no exaggeration to say that the issue will profoundly affect...
...were wise. Last week, under pressure from Congress, President Johnson offered a further cut of $2.6 billion by paring 10% from outlays for "controllable" programs and 2% from personnel costs. Even with that, federal spending in this fiscal year will climb to $136 billion, as measured by the administrative budget, and the deficit will be close to $20 billion-highest since the World War II era. That threatens to tighten credit and increase interest rates, raise consumer prices and debilitate the dollar. Obviously, the budget must be cut still further...
...item of expense. They are, in order of priority: Is the expense really necessary for the national security? Would a postponement on this program now only lead to much greater costs in the future? Will this expense improve the life of most Americans? By applying those questions to the budget, it is possible to see-item by item-where spending should, and should not, be reduced...