Word: budgeteering
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Dates: during 1960-1969
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Within hours after the FRB announced the hike in discount rates. Johnson affirmed the Board's statutory right to act independently, but regretted its refusal to hold its decision until next year's economic prospects have been appraised and a budget prepared...
Next year's budget, says the White House, will hit a record $105 billion to $107 billion, may be as much as $8 billion in the red. Yet few economists fear that the U.S. will suffer the kind of inflationary surge that accompanied the Korean War. In the early 1950s, defense spending doubled and then tripled, straining to the limit an economy whose G.N.P. was half what it is today. As a White House economist said last week: "It's a different ball game...
...report on the narcotics trade in Manhattan's Spanish Harlem, made by a group of talented Puerto Ricans. Spoken in Spanish with English subtitles (plus a peppering of Anglo-Saxon vulgarisms), the film is mainly distinguished for acting untouched by the naive semiprofessionalism that blights many a small-budget movie. Topping the cast is Jaime Sánchez as Chico, a well-to-do but restless cat who sums up his birthright by stating his birthplace: "102nd and Lexington...
...primary and secondary school education in Rhodesia. There the only integrated education that takes place as yet is at the University of Rhodesia, and at some private secondary schools. This does not mean that the African schools are being neglected. In recent years, twenty per cent of the national budget has been appropriated for African education...
...organizational starveling until Foy Valentine became its executive secretary five years ago. A scholarly, witty Texan of 42, Baptist Preacher Valentine now runs a staff of three men and two secretaries, from a well-appointed office in the headquarters building of the Southern Baptist Convention in Nashville. On a budget of $90,000, he supplies written materials to local congregations, conducts conferences and discussion groups in the six Southern Baptist seminaries, and speaks all over the South...