Word: budgeteering
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Dates: during 1970-1979
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...donated it to the city, making Los Angeles the third major U.S. city (after New York and Detroit) with a private mayoral residence. As for maintaining the Bradleys' lavish new quarters, apparently taxpayers needn't worry. Regular city workers will staff occasional parties without straining the municipal budget. In fact, because the mayor used to rent expensive hotel ballrooms to entertain dignitaries, the city may even save some money. All in all, the price was right. Says Bradley: "This was an offer we couldn't refuse...
Slower growth, in Jorgenson's view, will cut into tax revenues and increase Government budget deficits, which will continue to stoke inflation. Moreover, anything that raises energy prices, including President Carter's proposed combination of increased oil taxes and conservation measures, will only make investment in capital less attractive and inflation worse...
...sure casualty in Jorgenson's scenario: the President's hope of balancing the budget by 1981. Without exuberant growth, he says, "there's no way that goal will be realized...
With the cost of sending an offspring through college rising more than 70% since 1970, the Government has been willing to come to the rescue when family funds fall short. Now it seems that Uncle Sam has been reviewing his own budget...
...flow to its initial capacity of 1.2 million bbl. per day. That could cause financial problems for the state of Alaska; it has been counting on taxes from the pipeline, which are determined by the amount of oil actually moved, to finance 60% of its $1 billion current budget...