Word: budgeteering
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Dates: during 1970-1979
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With a $38 million budget deficit, high unemployment and 25,000 of its people on food stamps, Guam has plenty of problems. Elected following a campaign stressing "77 years of [U.S.] neglect," Guam Governor Ricardo Bordallo blames Washington for all the difficulties. "You'd be shocked at the number of sophisticates who know nothing about the Pacific," he sighs. "On my first trip to Washington, one Congressman asked me what was the citizenship of the Guamanian people. When I tried to cash a Government of Guam check, one bank manager demanded the address of my embassy...
...would extend "residency" status to any persons or companies wanting it, regardless of where they reside or do business. Those who file Guamian returns would be rewarded with a 75% tax rebate. Says Senator Edward Calvo, the tax code's author: "Once the multinationals hear about this, our budget worries are over." Well, not really. Federal lawyers are sure to challenge the great Guamian tax caper...
...free. So did fears about the prowling dangers of the big city. The Music Hall has recently done two-thirds of its business before 6 p.m. because, as Marshall sees it, families in the metropolitan area were wary of riding the subway at night. Meanwhile, countermeasures such as budget trimming (the Music Hall dropped its ballet troupe three years ago) and trying to draw new audiences with mid night rock concerts failed to turn things around...
Dean Rosovsky may have balanced his budget, but it looks as if tuition is going up again anyway...
Rosovsky said, however, that he is "determined to balance the budget," which he can do only if the instructional fund is not depleted in this manner...