Word: budgeteering
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Dates: during 1970-1979
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...campaign left her exhausted. At a victory party, she clutched a ginger ale and complained: "I've got a stomach- ache." She faces some daunting problems: the need for cuts to make up a projected deficit of $117 million and balance the budget, as required by law. But her four-year term will begin with a honeymoon -literally. In January, she will marry Investment Banker Richard Blum, who has been her unofficial political adviser for the past year...
Clark's dramatic downfall took place over a classic bread-and-butter issue: the budget. At stake was an austerity program that had been outlined two days before by Finance Minister John Crosbie. The program's goal was to raise an extra $3.5 billion in Canadian tax revenue in order to move toward full energy independence for Canada by 1990. Unfortunately, it was not as simple as it seemed. Crosbie's budget called for whopping tax increases on gasoline, heating oil and alcohol, and a 5% surcharge on corporate taxes. The gasoline tax alone would be increased...
...Paid holidays fell to eight from twelve. Vacations, which had averaged five to six weeks annually, were reduced and dropped altogether for the first year. Also axed: the costly pension plan, which had been chewing up $900,000 a year, or between 6% and 7% of the operating budget. Instead, the shareholder-employees chose a combination of improved insurance benefits, bonus and profit-sharing plans, and the promise of eventual stock dividends
Faced with all this, Hannon stunned the city, and the eleven-member school board, by handing in his resignation. The board had just renewed his four-year contract in September, but he was "tired," he said. He proposed a dramatic $70 million budget cut requiring the elimination of 1,700 jobs and the scaling down of programs for the disadvantaged. Two days later longtime School Board President John Carey also resigned, and left town on vacation, offering no explanation. After lengthy meetings with Mrs. Catherine Rohter, Carey's replacement as school board president, two of Hannon...
...smaller than that awarded in a San Francisco transit settlement. Critics, however, see the Boston circumstances as different: Schwartz was involved in the suit for only two months rather than years, on behalf of an agency that depends on taxpayers to cover two-thirds of its budget. As Frank puts it, "When the public sector is as desperately poor as it is, no one ought to get rich...