Word: budgeteers
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Dates: during 1930-1939
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More striking were Franklin Roosevelt's gestures to those who have grown alarmed by mounting Government deficits and recalled his 1932 promise to balance the budget. First was a veto which he imposed on a bill for $50,000,000 for seed & crop loans to farmers. Calling attention to the fact that the sum was not provided for in his budget, he declared that any money used for that purpose should properly come out of relief funds. Congressional pain at the veto was considerably alleviated when a few days later he allocated $30,000,000 from relief funds...
Most heroic gesture of the week was made in regard to taxes. Always one jump ahead of his opponents, President Roosevelt foresaw months ago that Republicans would campaign against him for his heavy deficits. In his January budget message he made his defense, drew an encouraging picture of a 1937 deficit of only half a billion dollars, smallest of the Depression. That picture was possible because he postponed estimating the amounts needed for Relief, took no notice of the Bonus Bill that Congress was about to pass, and did not anticipate the unconstitutionally of AAA processing taxes...
...suggesting that you do it now, when there is a lot of money floating around, and not wait until you are skinning the budget to the bone in order to make up for past extravagance...
...Month ago, when he heard that his testimony given in private was about to be published, he wired to the Committee: "Please eliminate my entire testimony from the printed copy of the hearings, but if this cannot be done at least strike out everything that is inconsistent with the budget or could be construed as a criticism of the New Deal...
HERE is offered an investigation of the relations between government financing, the banking system and business--a judicious and impartial survey of the various dangers and benefits which may arise from the unbalanced budget...