Word: budgeteering
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Dates: during 1960-1969
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Suburban Outflow. By whatever name, what is happening in Virginia is enough to unstatus the quo from Accomac to Yorktown. Not only did the assembly approve a record two-year budget of $3.13 billion, up 27.5% from 1966-68; it also gave Godwin authority to borrow $81 million of it. If voters approve in a November referendum, Virginia for the first time this century will float a general obligation-bond issue, a routine fiscal expedient long employed by all but a scattering of states...
...have stepped up the number of their covert forays into Laos. But the bulk of the U.S. presence in Laos, open and covert, is aimed at maintaining the uneasy balance of forces in Laos. To that end, the U.S. provides most of the money for the government's budget, and enough military aid to keep the 70,000-man Laotian forces equipped to fight...
...speck of land in the Indian Ocean 1,400 miles off the African coast, fell to Britain 158 years ago during the Napoleonic wars. Since then, it has cost dearly: a $60-a-ton subsidy on the island's only crop (sugar), almost $8,000,000 in budget support last year alone, and the necessity of moving in troops every time the country's Hindus, Moslems, Chinese and French-speaking Creoles decide to quarrel. No wonder Britain felt relief last week when independence finally came to Mauritius; small wonder, too, that even the issue of independence managed...
...raise the discount rate in order to curb investment demand, which it has done, or it can take steps to check the growth of the money supply or even reduce it. But neither of these methods will be adequate; it has become necessary to sharply reduce the federal budget deficit...
...done either by increasing taxes or cutting expenditures. A tax increase in an election year is as politically distasteful to Congress as it is to President Johnson, so it is almost certain that the price for the passage of a tax bill will be a substantial reduction in the budget. It takes little imagination to guess where the cuts will be made; the last wisps of the Great Society are about to be blown away...