Word: butted
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Dates: during 1940-1949
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It could cut spending, and get the unbalanced budget back into balance. This was tempting, but a cut in the really fleshy parts of the U.S. budget-the multibillion-dollar defense and foreign spending programs-might ultimately cost more than it saved.
It could raise taxes, which Harry Truman seems to want to do, while some of his advisers caution against it. A boost in taxes, they argue, would be bad in a political year like 1950; besides it might dangerously jiggle the prosperous but sensitive economy.
There was a third way-to keep on overspending, keep on going into debt, even in good times, as if debt didn't matter. Nobody seriously tried to justify this as a lasting policy. But it was just what the U.S. was currently doing.
Taking the sun in Key West, Fla., Clark Clifford, the President's closest adviser, last week told why he was quitting the Government. The lyrics were familiar, but some of the accompaniment was new. Though Congress had recently raised his salary as presidential counsel from $12,000 to $20...
"Tell me what the temperature is right this minute. It's 81, isn't it?" Then he added, with a nod toward his daughter Margaret: "She owes me one dollar if it's 80 or over." The captain flushed, looked as though he wished he were dead...