Word: budgets
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Dates: during 1940-1949
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Later in the week Budget Director Frank Pace Jr. flew in with his troubles. The budget for fiscal 1951, he told newsmen, would be "under $45 billion." He added: "In my judgment the budget cannot be balanced without additional taxes." It was also obvious, though he did not say so, that Congress was unlikely to be in a tax-increasing mood. The U.S., already $256 billion in debt and likely to add $5.5 billion to its burden this year, found little warmth in the news that it might go into the red another $7 billion next year...
...Fair Deal: It would add $20 billion to the U.S. budget. "The Government would tell everyone when to work, what to do and when to sleep . . . It would lead to totalitarianism and a labor-socialist Government...
...Ready Answer. In three days of speeches and group discussions there was plenty of doing. Secretary of Defense Louis A. Johnson had a few encouraging words for N.A.M.'s consistent plea for economy in government. Said he: "The $15 billion budget of 1949-50 for our department will be reduced in 1950-51 to $13 billion . . . and our defenses will be appreciably improved. There will be less waste, less duplication, and more efficiency-and the taxpayer will get one dollar's worth of defense out of every dollar spent." From ECAdministrator Paul G. Hoffman there was another encouraging...
...Ambitious Program. To preserve incentives, N.A.M. wanted the U.S. to 1) abolish present excise taxes except on tobacco and liquor, and substitute a uniform manufacturer's excise tax on all end products excluding foods; 2) limit the 1951 budget to $33.6 billion (some $11 billion below present estimates); and 3) return to the gold standard...
...Information program has not overcome hostility toward the Occupation or the United States. The failure represents no lack of effort or want of size. Quality of personnel and production have weakened the undertaking. Unlike the French, who from the start have spent a large portion of their Occupation budget on the transmission of French culture through intellectuals, the U.S. has been concerned chiefly with justifying its policy, good and bad; preaching much more than practicing democracy; and displaying pictorially many more sky scrapers than symphony orchestras or universities. Incidental things, such as converting the one undamaged art museum in Munich...