Word: budgeteering
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Dates: during 1970-1979
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...tight budget, with spending for fiscal 1979, which starts Oct. 1, held to $500.2 billion, roughly 8% more than this fiscal year. (The President stressed heavily that, adjusted for inflation, the increase would be only 2%.) The deficit is expected to shrink slightly, from $61.8 billion in fiscal 1978 to $60.6 billion. Though many businessmen grumble that spending and the deficit should have been reduced by $20 billion or more, the President did resist pleas for still higher expenditures. and McIntyre turned out to be something of a tiger at slashing spending requests...
...Urban Development's first try at a departmental budget and ordered a redraft that knocked out expensive new spending programs. Moreover, Carter pledged that he would try to reduce the role of Government spending in what is now a $2 trillion economy* from about 22% of gross national product next fiscal year to 21% by the time his first term ends in 1981. That is a goal that the most crustily conservative Republican businessman could wholeheartedly endorse, if he happened to believe that the President meant...
...emphatically not those that businessmen would select. Most executives are frightened by inflation, fear that it may bring an end to the expansion in a year or two despite Carter's tax cuts, and think the President should crack down on it by cutting federal spending and the budget deficit more than he intends. Businessmen and economists, like Murray Weidenbaum, a member of the TIME Board of Economists, consider his anti-inflation program "a puffball," and fear that the Administration is not yet sufficiently aware of how damaging a further decline in the value of the dollar could...
While his integrity is unquestioned, the test for Webster will be how well he can-with limited administrative experience-run an agency with 19,000 employees, a $500 million annual budget and a lot of problems. Dominated by cliques and thoroughly demoralized, the FBI has suffered one severe blow after another to its public image since the death of J. Edgar Hoover...
Among some black voters, there is frustration at being taken for granted by a Democratic Administration that seems as committed as the Republicans to balancing the budget. Moreover, blacks are increasingly attaining middle-class status; 30% of black families now have incomes of $15,000 or above (compared with 53% of white families), an income group whose interests diverge from those of the ghetto and black leaders. Says black Miami Businessman David Fincher, a registered Democrat: "Democrats think we are still on our knees begging and praying. I'm looking for anyone to deliver what we need...