Word: budgeteering
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Dates: during 1960-1969
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...separate message to Congress, Johnson proposed a budget for the fiscal year starting July 1 that comes to $195,300,000,000, an $11.6 billion jump from the present year's estimated total. The nation can afford this new federal spending, Johnson explained, precisely because it is so prosperous. He predicted budget surpluses of $2.4 billion for fiscal 1969 and $3.4 billion for fiscal 1970. Total defense outlays will creep up only $500 million to $81.5 billion, and the proportion going for Viet Nam will drop, for the first time, from 35.5% to 31.2%-partly because the costly bombing...
Campaign Commitments. Johnson's other budget proposals for fiscal 1970 include ending the distinction between first-class mail and airmail, since much long-distance mail now goes by air anyway; the new flat rate would be 7? an ounce. Congressional salaries would go from $30,000 to $42,500 a year, those of Cabinet members from $35,000 to $60,000. (Last week the Congress approved a 100% salary boost for the President, to $200,000.) Johnson requested no new money for the U.S. supersonic transport and suggested cuts of $300 million in space spending, $540 million in farm...
Nixon, of course, can revise the proposed budget. Though he and President Johnson conferred by telephone for 40 minutes shortly before Johnson gave his State of the Union speech, Nixon is only tentatively committed to extending the 10% income surtax for another year. Because Nixon is pledged to halt inflation, however, he will find it doubly difficult to end the surtax and thus erase the deflationary surplus Johnson hopes to create. Johnson asked an overall 13% increase in social security benefits; in the campaign, Nixon proposed to tie social security payments to a cost-of-living index so that benefits...
Community Service. Quite a few of the new Cabinet members are no strangers to Washington. Stans served as Eisenhower's budget director from 1958 to 1960. Finch was executive secretary to California Congressman Norris Poulson in the late 1940s, and administrative assistant to Vice President Nixon a decade later. Melvin Laird, the incoming Secretary of Defense, has been an eight-term Congressman from Wisconsin, and has become a highly influential Republican in the House. Secretary of State-designate William Rogers was Eisenhower's last Attorney General; during the Kennedy and Johnson years, he kept a handsome house...
...three years. Even if priorities are worked out, the question remains: where is the money to come from? Can the U.S. afford it? In managing the nation's economy, President Nixon's freedom of maneuver will be fairly circumscribed at first; he inherits from Johnson a budget that can be altered and amended but whose thrust and direction derive from past commitments and certain built-in increases, such as mandated pay raises for civil servants and the armed forces. Nor can he redirect the course of spending from the huge reservoir of obligations previously authorized by Congress (current...