Word: budgeting
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Dates: during 1940-1949
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...estimate of expenditures, Harry Truman's budget was meticulously frank. For the first time in history, the budget contained items for expenditures ($4,254,000,000) which have not yet been authorized by Congress but will likely come up in fiscal...
...only point of secrecy: the cost of atomic research. The White House conceded that atomic development was in the budget somewhere, but it was not apparent...
What of the Future? For fiscal 1947, a transition year from war to peace, the President's nearly balanced budget looked like a good try. For the future, his budget message was not so hopeful...
Government expenditures, said Harry Truman, "can hardly be expected to be reduced to less than $25 billion in subsequent years." At about such a figure, he hoped to balance the budget in '48. But at $25 billion Government costs would be about three times the prewar level and more than six times the predepression level. In the gravity-proof stratosphere of Government costs and taxes, nothing ever comes down as far as it goes...
What must be done, said Eccles, is to balance the federal budget, stop selling Government bonds to commercial banks (which swells the supply of currency), and change the capital gains tax so that profits on speculation in stocks, real estate, etc. will be heavily taxed...