Word: budgeteering
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Dates: during 1970-1979
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Administrators at the different graduate schools said each year their financial aid committees revise the estimated student budget according to inflation levels. The schools, however, are likely to come up with different percentages of inflation, depending on their sources of information...
WHEN THE PLANS for the neutron bomb were uncovered as a tiny item in the 1978 budget for the Energy Research and Development Administration last summer, many Americans were outraged by the possibilities inherent in a tactical nuclear weapon. Although this outcry seems to have dissipated over the winter, anesthetized by the swirl of military and diplomatic gibberish surrounding the arms race, the neutron bomb nonetheless demands sober consideration. The weapon would be used to stop Soviet tank attacks in Central Europe, but the likelihood of such an attack appears increasingly dubious...
Reduce the Budget. President Carter emptily claims that his budget for the next fiscal year is "tight," although it has soared since 1974 from less than $270 billion to more than $500 billion, and the planned deficit will run an inflationary $60 billion-plus for the second straight year. With the economy rising and unemployment falling, even Treasury Secretary W. Michael Blumenthal and the rest of Carter's closest economic advisers believe that the deficit should be contained. Wisconsin Democrat William Proxmire, one of the Senate's best economic thinkers, argues that the budget should be shrunk...
Curb Regulation. The spreading powers of the Environmental Protection Agency, the Occupational Safety and Health Administration, the Equal Employment Opportunity Commission and hundreds of other regulatory agencies aggravate inflation by adding to the budget and, more important, swelling the costs of doing business. One significant step would be to hold down the EPA's "enforcement" spending, which is budgeted to jump from $73 million to almost $95 million. Every dollar devoted to EPA "enforcement" obliges U.S. business to invest many more dollars on nonproductive machinery, which then raises prices, reduces productive capital spending and retards hiring...
...Local Taxes. If their projected wage increases were reduced, the states and cities could trim their sales, income or property taxes. Another reason for reduction: many states and localities are enjoying budget surpluses...