Word: budgeteering
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Dates: during 1960-1969
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...BUDGET...
...would be well-nigh impossible, complained President Johnson during his long sessions with Budget Director Kermit Gordon at the LBJ Ranch, to squeeze Government spending next year to less than $100 billion. There was no magic in the arbitrary $100 billion figure. Having mentioned it, however, Johnson was able to display a flourish of frugality when he sent Congress a budget this week calling for $99.7 billion...
That was still a record high. But, wrote the President, "the budget provides reasonably for our needs. It is not extravagant. Neither is it miserly." As the vehicle meant to take the U.S. on its first mile toward the Great Society, it was rather remarkable. It called for an increase of $2.2 billion above total spending; yet it anticipates a deficit of $1 billion lower than this year's estimated $6.3 billion. It included vast new spending requests for health, education and poverty programs, adding up to a total increase of $3.6 billion, or 48.6%, in Government spending...
President Johnson has requested $17.6 million for Cambridge's National Aeronautics and Space Administration electronics research center in the fiscal 1965 budget...
President Johnson's request for the smallest foreign aid budget ever - $3.38 billion - was clearly influenced by the necessity of stemming the U.S. gold outflow and payments deficit. The Government planned several other measures to narrow the payments gap. The Treasury's new Under Secretary, Fred Deming, said that his department might place a tax on U.S. bank loans abroad, which amounted to between $2 billion and $2.5 billion last year. The Treasury will also begin to sell an additional $100 million weekly in short-term securities, offering higher interest rates to attract buyers; by thus edging...