Word: budgeteers
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Dates: during 1960-1969
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...their objections so loudly that their representatives in Congress had to take notice. For legislators who were already skeptical of Sentinel, time to do anything about it seemed to be running out. Since the first appropriations for construction and pro curement were approved last year, this year's defense budget might be the last opportunity to halt or slow the undertaking...
...lack vital data about the attacking missiles and about ABM performance," says Wiesner, who calls Sentinel "that Edsel of ABM's." "So we just pick some numbers that seem rational and we use them to make whatever point serves our purpose." Ted Kennedy quotes the Budget Bureau's Richard Stubbing, who evaluated $40 billion worth of aircraft and missile projects initiated since 1955 and concluded that "less than 40% of the effort produced systems with acceptable electronic performance." The implication, of course, is that if technology cannot perfect relatively simple devices, it seems highly improbable that the infinitely complex...
...offense to stay ahead of the defense. Defensive technology has reached the point, Brennan maintains, where it requires equal effort for the offense to keep pace. To this, Simon Ramo, vice chairman of the billion-dollar-a-year TRW electronics company, replies that with "one-tenth of the budget of ABM, thick or thin, I could wreck the system...
Despite their heavy military budgets in recent years, Russian leaders, like their American counterparts, have good reason to hope for an arms slowdown. Soviet defense expenditures cannot be precisely audited because they are largely hidden. Nonetheless, it is generally believed that Moscow's recent defense spending has been roughly equivalent to Washington's military budget (after the $30-billion-a-year cost of Viet Nam is subtracted from the U.S. figure). Yet the Russian gross national product is only about half of the American G.N.P...
...chairman is one of Washington's most astute politicians and a master at wringing consensus from the diverse personalities among the seven Federal Reserve governors and twelve presidents. No one doubts Martin's courage. When politicians were unwilling to raise taxes to slow inflation and narrow federal budget deficits, the board did the job by restricting money. Then Martin calmly absorbed the resulting criticism, most notably after the "credit crunch" of 1966. To blame the Federal Reserve for that, says Arthur Okun, who was Lyndon Johnson's chief economist, is "like scolding a driver who just avoided...