Word: byrds
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...have already reacted to the prospect of such cuts with the wariness of a man who receives through the mail an unexpected package that emits a ticking sound. And among the wariest are the two congressional veterans who wield the most power over tax legislation: Virginia's Harry Byrd. 75, chairman of the Senate Finance Committee, and Arkansas' Wilbur Mills, 53. chairman of the House Ways and Means Committee. Democrats Byrd and Mills are conservatives predisposed in favor of tax reduction; but they have deep doubts about the timing...
...President's call for reductions at an "early date" seems untimely to men like Mills and Byrd because the federal budget for fiscal 1963 (ending next June 30) shows a deficit estimated at $7.8 billion. Another gaudy deficit, of size unknown, lurks ahead for fiscal 1964. Conservatives fear that tax reduction will deepen the deficits. "I'm not in favor of reducing taxes out of borrowed money," says Byrd, "and that's bound to be the case with any tax cuts next year." Speaking in New York the day before the President, Byrd said he was convinced...
Similar sentiments issued from several of Byrd's fellow Senators-Kentucky Republican Thruston B. Morton, Kansas Republican Frank Carlson, and even Tennessee's liberal Democrat Albert Gore, who pronounced himself in favor of tax cuts only "if we could reduce Government spending and pay something on the national debt...
...three, four." Said Bell, with a dry smile: "Forty-five billion." The bigness of that number proved to be prophetic. As Budget Director, Bell regarded spiraling expenditures and gaudy deficits with a cheerfulness that enraged congressional conservatives. Last summer Virginia's Democratic Senator Harry F. Byrd called upon Kennedy to dismiss Bell because he lacked the "requirements of fiscal responsibility and discipline." Far from firing him, Kennedy counted Bell as one of his most valuable advisers...
...After Byrd came George Washington, who saw a chance to make a buck out of the bogs. Washington bought up a chunk of the swamp, organized a company called "Adventurers for Draining the Great Dismal Swamp," put slaves to work building a canal, which is still in use. It was profitless. Washington finally sold the land to Lighthorse Harry Lee for $20,000, but when Lee could not meet the payments, the property reverted to Washington and was sold with Washington's estate...