Word: budgeteering
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Dates: during 1960-1969
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...from ignoring it, the President last week confronted it directly with action on two fronts: 1) With his approval, the Federal Reserve Board moved to intensify the squeeze on cred it. 2) At a meeting with domestic policymakers at his Key Biscayne retreat, he reviewed efforts to trim the budget enough to produce a surplus of at least $4 billion. Earlier, the Pentagon announced some cutbacks in Viet Nam spending that might be merely budgetary -but might also be a signal to Hanoi of deescalation...
Nixon does, certainly. When he took office, he inherited a $195 billion budget with a projected surplus of $3.4 billion. But in a matter of weeks, he realized that "uncontrollable" increases in debt interest and other costs would inflate the budget to $197 billion and trim the surplus to a bare $1.7 billion. Nor did Nixon's own department heads prove very sharp with their pencils. Their recommendations totaled $1 billion more than the original Johnson budget...
Very Disappointing. In a sharply worded memo, Nixon termed the economizing effort "very disappointing" and ordered another try. A prime target, of course, is the Defense Department. Nixon wants Defense Secretary Melvin Laird to sweat $2 billion out of the $80 billion budget. In his first attempt, Laird managed to cut only $550 million. Nixon told him to try again, and this time Laird brought the reductions up to $1.1 billion, chiefly in "ground munitions," including the anti-ballistic missile (ABM) system, which will take a $34 million...
...general, the spending process that has grown up in the past 20 years has all but got out of control. Though the Budget Bureau is supposed to run an independent check of all proposed expenditures by Government agencies, it has accorded the Defense Department, the biggest spender of them all, special treatment that results in considerable freedom from stringent review. Congress, with its key military and appropriations committees headed by promilitary Southerners, has occasionally voted more money than the Pentagon requested. When McNamara announced the closing of 80 installations in 1964, he received 169 protests from Congressmen that same...
...into the filming, once the real work had begun. Often, between takes, he reached for the bottle of burbon, took a gulp, gargled with it and then swallowed it down: all without comment from him or anyone else. (The bourbon was cheap and awful; Prophetic Pictures' production budget is $2000 -- most of which goes for minimal salaries and prop rentals--so there is little room for extravagant extra expenses.) While Tommy worked, drank, worked, looked over his script, drank, no one spoke. Eric and Tim might say something about technical matters, but mostly: nothing. The rest of us sat around...