Word: budgeteering
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Dates: during 1970-1979
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...their junkets, Chinese delegations carried elaborate shopping lists whose extravagance may far exceed the limits of the Chinese budget. Although China's international credit rating is excellent, the country has never dealt in the lofty sums now being discussed. The Chinese hope to finance their modernizations through development of oil exports, through joint ventures in which they pay off their debts in goods manufactured in foreign-built mainland factories, and through their immense human resources: manpower and discipline. One shadow over the New Long March, however, is doubt that the primitive Chinese economy can rouse itself to meet the price...
...already clear that OMB'S recommendations are an important departure from previous Administration policy. With its proposed ceiling of $532 billion in spending, the fiscal 1980 budget will rise only about 8%, or less than the inflation rate. Thus the budget for fiscal 1980 looks much more like a "lean and tight" spending program than did the bloated one Carter produced last January. Next year's budget is already a success for OMB Boss James Mclntyre, who came to the job last winter as a fill-in replacement for the fallen Bert Lance, and only recently seems to have taken...
Unfortunately, budget trimming by OMB seems small when weighed against the remorseless growth of federal expenditures that are mandated by law. Such "entitlement programs" as Social Security. Medicare and federal pensions account for nearly two-thirds of the budget, and in HEW they claim 89c of every dollar. Social Security alone costs $104 billion. Unless the growth of benefits is slowed, the whole Social Security system?as well as the budget?will be in deep trouble. Says Alice Rivlin, director of the Congressional Budget Office: "If you're really concerned about the growth in Government, then you have...
...reduce sharply the impact aid program, a Government pork barrel that provides nearly $1 billion annually in tax dollars to school districts, no matter how wealthy they are. If Washington is not willing to re-evaluate these open-ended commitments, the day must come when the entire budget will consist of so-called uncontrollable spending obligations. When that happens, the task of cutting the bloat will be tougher than ever...
...strictly at children. Finally the FCC opened the 7:30 p.m. to 8 p.m. slot to local programming suitable for both children and adults, and HA! bypassed the networks by signing an extraordinary deal with Lord Grade's ACC group: 24 shows a year, international syndication, a healthy budget and complete artistic control...