Word: deficit
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Dates: during 1960-1969
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...Behind the Eight Ball." In a way, the Republicans had been trapped. Sensing a strong public reaction against the Administration's deficit-spending policies, they have made economy the foremost issue of the 1963 legislative session. They could, therefore, hardly support the public works appropriation in all its freespending glory. Explained Wisconsin's Republican Representative Melvin Laird after the floor vote: "Sure it was a tough one, perhaps the toughest we could have picked. But if we'd run from this one, I don't see how we could continue to claim that we really believe...
...political "slush fund." Like Kennedy, Rockefeller is for a tax cut-in fact, he argued for an immediate slash of $10 billion. But he also wanted drastic reductions in federal spending. Given these, he insisted, the U.S. could show a budget surplus in 1965 instead of the $12 billion deficit that Rocky foresees under present Kennedy plans...
...pests as the guest of then Chief of Staff George C. Marshall. "That was a magnificent trip." Peralta remembers. Selecting his Cabinet last week, he stuck strictly to anti-Communists but chose a majority of civilians. Peralta's Treasury Minister announced plans to cut down on the budget deficit, fire featherbedding federal workers and reform the tax system...
...indeed Britain's first deficit budget since 1947, but instead of glittering, across-the-board tax cuts that Britons had expected, Maudling trimmed income taxes by a moderate $700 million, targeted his cut to benefit the lowest income families-an aim that could only draw praise from the opposition. To help offset the cost, he announced his intention of taxing the vast, largely untapped fortunes ($2.3 billion in 1962) that Britons lavish on gambling each year...
...Balmoral Castle in Scotland. Earmarked for scrapping are 1,200 of Britain's beloved "puffing billy" steam engines, 350,000 freight cars and 7,800 passenger cars. By taking such measures, Beeching hopes to save as much as $412 million annually and eliminate much of the Railways' deficit by 1970. But with Britain already plagued by rising unemployment, there will be labor pains if his ideas are adopted: he wants to pare at least 70,000 workers from the railways' 475,000-man work force...