Word: budgeting
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Dates: during 1920-1929
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...served in Congress seven times (1909-21) and retired when he was chairman of the pivotal Committee on Appropriations. Since then he has practiced law in Chicago and raised potatoes and angora goats in North Dakota. He met the Beaver Man in 1921, when they worked on the Budget together. He managed the Coolidge campaign in the West in 1924. When Hoover asked him a year ago to Hooverize the U. S., Good consented with pleasure. Of what he has done since, Mr. Good speaks modestly...
...difference between the U. S. fiscally in 1921 and fiscally in 1928 is the principal Coolidge pride, and the principal Republican point in election debate. But neither pride nor point arises from the 1928-29 estimates which were, of course, the business of this particular budget meeting...
...estimated expenditures $3,801,000,000. These estimates might seem to forecast a deficit." Insupportable thought, to be quickly dismissed by the prestige of a Presidential first person: "I do not face the coming year with any thought that we will not balance the budget. This nation is committed irrevocably to balancing the budget...
...this to be accomplished? By strictest economy, by the tireless picking and pecking of Herbert Mayhew Lord, director of the budget. Arose, therefore, General Lord, hoarder of pennies, good storyteller. Said he: "Are we disturbed? Well, perhaps disturbed, but not discouraged. Down, but not out. We accept the challenge. . . . Expenditure will be kept inside revenue, no matter what the decrease in revenue may be." General Lord stared the deficit in the face, recalled the black days of 1919: "In certain localities it is the custom to refer to the year of the big snow or the great flood. ... I think...
...State budget had increased some 16 millions, reaching $232,641,701. He explained how the money was spent, for highways, education, hospitals, prisons, conservation, claims, public works. He pointed out that the Legislature, controlled by Republicans, had only been able to lop $25,000 from his Administration figures, and had tried to add on "unnecessary" appropriations of $219,000, which he had vetoed. He anticipated a political outcry against "extravagance" by promising to defend his fiscal policies and the $16,000,000 increase anywhere, any time...