Word: budgeteers
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Dates: during 1950-1959
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Meanwhile, in his office above the pro's shop at the Augusta National Golf Club, President Eisenhower began hammering out the domestic budget for fiscal 1961 with his top Cabinet officers. "Gentlemen," he had told them at a session fortnight before in Washington, "you are going to have to prove each item to me." Despite pressures of rising prices and cries for ever more costly military hardware, the President was determined to make a balanced budget his top domestic priority...
Fight Against Upcreep. As the economic indicators started climbing, Anderson's prestige climbed with them. That autumn he set off on another soft-spoken crusade: his fight to get the Administration firmly committed to balancing the fiscal 1960 budget that the President would send to Congress in January...
...nearly everybody but Robert Anderson, a balanced 1960 budget seemed a hopeless undertaking. Over the prosperous Eisenhower years, the Administration had achieved a budget surplus only twice, in fiscal 1956 and 1957 (see chart), despite all the balanced-budget promises of the 1952 campaign. With the 1959 budget a gaudy $12.5 billion in the red, and the economy still convalescing from the recession, sober heads in the Administration argued for aiming toward a practical goal, e.g., holding the 1960 deficit down to a few billion...
...Anderson argued that a balanced budget was urgently needed for its symbolic value. If the chronic price upcreep of the mid-1950s came to be tolerated as inevitable, he warned, it could inflict severe damage on the economy by eroding the confidence in the future that is essential to the workings of a free economy. By taking a stand for a balanced budget, the Administration would show that it intended to fight against price upcreep...
Anderson's case for a balanced budget left some of his fellow Cabinet members unconvinced. But by this time, Anderson had thoroughly won over the ally who really counted: Dwight Eisenhower...