Word: budgeteering
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Dates: during 1960-1969
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With defense and domestic spending now running as much as $8 billion higher than his fiscal 1968 budget anticipated last January, the President announced he was sending to Congress a tax package that would impose, at least through 1969, a 10% surcharge on all corporate and individual income taxes. Along with borrowing and belt-tightening in such programs as public works, the President hopes the surcharge, which should bring in some $6.3 billion, will reduce the national budget deficit from a crushing $29 billion to between $14 and $18 billion...
Shortly thereafter, Nasser's socialist regime produced a new emergency budget that showed he was not kidding. It imposed higher taxes on the middle and upper classes, raised workers' compulsory monthly savings by 50%, reduced overtime pay, cut the sugar ration by a third, and curtailed practically all major industrial programs. Only military expenditures were increased, by $140 million to an estimated $1 billion, exclusive of some of the hidden barter arrangements with the Soviet bloc. Nasser also increased the price of beer (by 50 a bottle), cigarettes (50 a pack), long-distance bus and railroad fares...
Recently $23.5 million in Federal money slated for new construction at the $80 million University of Massachusetts Medical School was cut from the Federal budget. Officials at the U.S. Department of Health, Education, and Welfare said that the money was not available because of the Vietnam...
...Grudge. Kiesinger was furious. He went on TV to disavow Schroder, saying that "the Cabinet has by no means decided to cut the troop strength of the Bundeswehr to a considerable de gree, let alone by 60,000 men." While overall cutbacks will be made in projected defense budgets through 1971, he said, the defense budget for the next four years will actually be larger than at present. Kiesinger was joined by Finance Minister Franz Josef Strauss, who holds a grudge against...
...flights between New York and Moscow (9 hr. 10 min., $548 on the 21-day excursion plan). And to make sure the tourist flow keeps up, Intourist, the state-run travel agency, is now priming the pump in good capitalist fashion with a $1,000,000-a-year advertising budget abroad...