Word: budgeteering
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Dates: during 1970-1979
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...Cleveland and Columbus from bankruptcy. Conservative candidates for the U.S. Senate won victories in Iowa and New Jersey by campaigning hard for tax cuts. Twenty-three state legislatures have called for an unprecedented constitutional convention to weigh an amendment requiring the Federal Government to operate on a balanced budget. Limits on state and local spending have been enacted in three states (Colorado, New Jersey and Tennessee), and efforts to clamp on similar lids are under way in 19 others. And Howard Jarvis, the crusty curmudgeon who spearheaded the California tax revolt, has already been asked to carry his crusade...
...Francisco Mayor George Moscone was studying a worst-case budget: the $84.9 million to operate city buses, trolleys and cable cars would be more than halved, the street-cleaning fund would drop from $783,000 to $90,000, and the city's human rights commission (scheduled to spend $332,101) would get no money at all. Even so, Moscone said: "I don't take a doomsday approach to how this city is going to react to crisis. We've been through earthquakes, don't ya know?" An anonymous poet was less optimistic, leaving this ditty taped to the door...
...seemed to be shaping up on Capitol Hill last week for a less inflationary $15 billion reduction. Even so, the projected federal deficit would still be $53 billion, give or take a few billion, and the President declared last week: "Someone has got to hold the line on the budget, and I am determined to do so." To show that he means business, he is talking of a fiscal 1980 budget that would trim the deficit further, to $37.5 billion, and would include virtually no new spending...
What now? The redevelopment agency will be killed. The community's operating budget of $5.5 million will have to be cut by $1.75 million by July 1. Groans City Manager Robert R. ("Bud") Ovrom: "Jarvis said that his measure would mean a 10% cut in local budgets. Here it's more like 30%. But we'll just have to make it work...
...Ovrom, 32, and the five-member city council began considering cutbacks in spending and new sources of revenue three months ago. While some funds should be forthcoming from the state surplus, Ovrom based his new budget on the assumption that Monrovia would have to go it alone. Accordingly, many of the townspeople believe - understandably - that city hall is crying wolf. Concedes Ovrom: "Sure, a couple programs we cut may be restored, but we just can't count on much...