Word: dillons
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Dates: during 1960-1969
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...each including a number of alternative demands that Kennedy eventually put aside. Until the day before he spoke, the President had planned to ask for a tax hike, rather than let the budget deficit rise higher. But Budget Director David Bell, Economic Adviser Walter Heller and Treasury Secretary Douglas Dillon argued that the economy was strong enough to stand the added debt, and that new taxes might well slow the recovery from last winter's recession. Kennedy finally decided to ask only for measures that would end the Post Office deficit, but left the way open for higher taxes...
...able to muster only 83 of the House's 437 members on a petition protesting the President's plan to borrow $7.3 billion directly from the Treasury-a tactic designed to bypass the authority of the penny-pinching House Appropriations Committee. Even respected Republican Treasury Secretary Douglas Dillon argued that such "backdoor spending" was an economically sound procedure, used by every President since Herbert Hoover to support some 20 federal agencies. Aid Opponent Passman felt so sure that he did not have enough votes to block the bill in his Appropriations Subcommittee that he called off hearings. Kennedy...
...wallpaper decorated with Revolutionary War scenes; it will be used to paper Jackie's private dining room. Mrs. Albert Lasker gave the committee a marble bust of George Washington, and a jowly, side-burned bust of Martin Van Buren was discovered in storage. Treasury Secretary and Mrs. Douglas Dillon chipped in with a roomful of Empire furniture including a mahogany library table and an anonymous source lent a Samuel F. B. Morse portrait of Revolutionary War General John Stark. Back to the White House from a private home in Virginia came a tufted upholstered chair that was formerly...
Along with his glowing expectations for the domestic economy (see above). Treasury Secretary Dillon last week voiced cautious optimism about the U.S.'s position in the world economy. After running up an $11.2 billion balance-of-payments deficit in the last three years, the U.S. this year is narrowing the gap. Preliminary figures indicate that for the first six months of 1961, the overall deficit will run only $600 million v. $1.3 billion for the same period last year. In the so-called "basic balance of payments" (which excludes short-term capital flow), the U.S. will probably show...
While Secretary Dillon pointed with pride, his British opposite number, Chancellor of the Exchequer Selwyn Lloyd, wrestled with a new economic crisis. At a luncheon of the Association of British Chambers of Commerce last week, Lloyd tacitly confessed that Britain could no longer afford the economic strain of behaving like a great power, must cut its military expenses and avoid increases in foreign aid. Said Lloyd grimly: "We have been trying to do too much . . . Since the war, we have spent money out of all proportion to our resources to hold the free line throughout the world...