Word: budgeteering
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Dates: during 1960-1969
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...need for increased state expenditures, George Romney asked the Michigan legislature for state income taxes on individuals (21%), corporations (5%), and banks and other financial institutions (8%) to balance record expenditures of $1.15 billion, up $128 million from last year. If new taxes are not levied, he warned, the budget will drop $147 million into...
Less in California. By contrast, Californians had sent Ronald Reagan to Sacramento with a mandate for retrenchment-and that was precisely what they got in Reagan's first budget message last week. Higher education was cut back 15%, capital expenditures 17%, state departments and agencies an average 10%. No new programs were proposed. Even after Reagan's slimming course, his budget still totaled $4.62 billion, an increase over Democrat Pat Brown's requested budget a year ago, but still, according to Reagan, $251 million less than the state will actually spend during the current fiscal year...
Brown's budget had been balanced by a one-shot windfall of millions, the result of a change in the state's accounting system. Reagan has no such nest egg, and said he would need upwards of $240 million in new taxes just to stay even. Last week he even accused Brown of having "looted and drained" the state treasury, leaving his successor with the onus of levying new taxes. Reagan later explained that he had not implied any malfeasance on Brown's part, confessing that he was "addicted" to using the "simplest words...
Plenty from Washington. No matter what happens to their budgets in the state capitals, most Governors realize that the direction of state government depends more and more upon decisions made in Washington. It was thus appropriate that even as Rockefeller's budget was being presented in Albany, the Republican Governor-who brought the term "creative federalism" into current usage-was testifying in Washington before a Senate subcommittee studying ways in which the federal system can, in fact, be made more creative. The atmosphere was low-key, but nearly everyone had a story or two pointing out the bugs...
...reckoning, the cost is already extremely high: since 1961, $23 billion has been expended on the man-in-space project alone, which amounts to 65-70% of the entire U.S. space budget. The National Aeronautics and Space Administration (NASA) presently involves 400,000 workers, including 60,000 scientists and engineers. From the Cape's launching pads to Australian tracking stations, $3.6 billions worth of installations are spotted around the globe...