Word: budgeteering
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Dates: during 1970-1979
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Jimmy Carter offered that resounding endorsement of Bert Lance, his embattled director of the Office of Management and Budget, at a hastily called White House press conference last week. By interrupting his vacation at Camp David and flying to Washington, the President was not only dramatizing his support for Lance but also signaling his belief that the worst of Bert's problems were over. It was a bold and risky move by Carter as he faced his most serious personnel decision since he took office seven months...
That was not quite accurate. The revelation of Lance's parlous personal finances makes him an unconvincing spokesman for Carter's philosophy of tightfisted national spending and a balanced budget. Up to now, Lance has been the most prominent defender of the Administration's economic policies, overshadowing talented but far less flamboyant figures like Treasury Secretary Michael Blumenthal and Charles Schultze, chairman of the Council of Economic Advisers. Both of these men may now become much more visible...
Personal overdrafts Probably more harmful to Lance's image as a tightfisted budget director bent on balancing the national ledger was the report's confirmation that his Calhoun bank winked at massive overdrafts by the bank's officers and their relatives. According to the report, Lance's wife LaBelle overdrew her account by as much as $110,000 in the last four months of 1974. Between September 1974 and April 1975, nine Lance relatives amassed overdrafts totaling an impressive $450,000. In December 1975, federal bank examiners insisted that the overdrafts be stopped...
...quarters at the L'Enfant Plaza hotel are among the busiest in Washington, as U.S. bank examiners press their potentially explosive investigation of Bert Lance's financial affairs. The comptroller's lengthy report is due soon, perhaps this week, and could save or squash the powerful budget director, who is Jimmy Carter's old pal, former creditor and longtime close confidant. Says Deputy Comptroller C. Westbrook Murphy: "All we're dealing with is the survival of Bert Lance and the reputation of the President, not to mention the performance of some of the biggest banks...
Arledge goes first-class. Given a big news budget (ABC is no longer the cheapo among network news operations), he has recently hired such good people as Av Westin, Cassie Mackin, Sander Vanocur. Impatient with all the "back to New York" cues between items, Arledge is setting up what he calls "regional anchors." The Middle East anchorman and his correspondents pass the story along from one to another like Tinker to Evers to Chance, and talk endlessly above a shifting kaleidoscope of film, whose relevance is not always explained. Looking at the new ABC Evening News these days...