Word: budgeteering
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Dates: during 1960-1969
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...from 10% to 3%). Since the reductions had come into effect only twelve days before his speech, quick congressional approval of the request would make the excise reductions the briefest tax cut in memory. Restoring those taxes would add about $1.2 billion for Johnson's record $112.8 billion budget next year. Beyond that, the President recommended a razzle-dazzle redesign of revenue-collection mechanics that would put an extra $3.7 billion at the Government's disposal next year. The new pay-as-you-go plan would not actually raise taxes, instead would increase the monthly amounts withheld from...
...Deficit. The President first dug into the domestic portion of his program, rattling off more than a dozen general proposals for the 89th's second session. Then, almost casually, he dropped the word that next year's administrative budget will be a record-breaking $112.8 billion, while the estimate for federal revenues for the same period totals $111 billion. That left a deficit of $1.8 billion, which, Johnson carefully emphasized, would be "one of the lowest in many years." In fact, he said, the cash budget for fiscal 1967 (as opposed to the smaller administrative budget, which does...
...President's desire for a cash budget surplus next year was clearly...
...sure, depend rather heavily on some imponderables. For one thing, the President was relying on congressional passage of his various tax programs, which may face some opposition. Beyond that, Government forecasts have averaged an almost 9% error on revenues, more than 6% on spending. This year's budget totals, said a White House aide, are "highly uncertain." As it now stands, the administrative budget, not counting a projected $5.8 billion increase caused by Viet Nam, will rise by $600 million over fiscal 1966. The extra requests for the Great Society will be partially offset by a $1.5 billion...
...would thus seem that Mrs. Bunting has chosen the worst possible method for meeting rising costs. Her proposed change will not only change the style of life, but also drastically increase the expenses, of a large proportion of the students. On the other hand, the budget must be balanced, and the students that cost the most should pay the most. Those girls that "don't want to have anything to do with the dorms," as one Cliffie stated, should not forget that their ability to live in a homey atmosphere is currently financed at a loss to the College...