Word: budgets
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Dates: during 1930-1939
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Doing his level best to avoid being branded an intractable Republican diehard, Michigan's Senator Vandenberg recently urged President Roosevelt to seek the item veto-power to strike out individual items in big appropriations bills. Last week in his budget message (see p. 19), without mention of the senior Michigan Senator, President Roosevelt asked for the item-veto power, added with unusual deference to the Constitution: "A respectable difference of opinion exists as to whether . . . item-veto power could be given to the President by legislation or whether a Constitutional amendment would be necessary. I strongly recommend that...
Well did such a request suit a budget message. Congressmen often load an important appropriation bill with pork, leaving the President the choice of taking bad with good, or nothing. With the item veto, now possessed by the Governors of most of the States, he could separate the sheep from the porkers. Proposed on a non-partisan basis, the item veto seemed to have a fair chance of passage-an event which would make life measurably easier for any President who undertakes to balance the budget...
...Governor White last week to do something that to other Depression-ridden Governors sounded like pure quixotry. Thanks to plentiful Federal grants for public works and a 2% sales tax inherited from his budget-balancing predecessor, Sennett ("Mike") Conners, Governor White boasts a $5,000.000 surplus in his State treasury. All homesteads valued at less than $2,500 are currently exempt from State taxes. In his opening message to the legislature last week, Governor White expressed the pious hope that all homesteads be exempted, not only from the four-mill State tax but from the 15 to 7O-mill taxes...
...earth. He has found in the solar variations a number of periodicities which fit into a 23-year cycle and an even more important cycle of 46 years. Matching the cycles with actual weather records has provided, he declares, partial confirmation. Testifying last week on the Smithsonian's budget needs before a House appropriations subcommittee, he gave it as his opinion that the U. S. is emerging from a drought period which began about...
...employment in November and December as "sharper than any which had occurred in this country in recent years,"* Marriner S. Eccles, thin-lipped chairman of the Federal Reserve System, took the stand. Marriner Eccles was one of the first New Deal officials to come out for balancing the budget. Last week he announced that he still favored a balanced budget but that it could be obtained now only by increased taxes, which would be deflationary; so would any cut in Government expenditures; so, too, would be repeal of the undistributed profits tax which now obliges corporations to declare most...