Word: dillons
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Last week Kennedy's Treasury Secretary Douglas Dillon all but rubbed out the smudge in a "Dear Wilbur" letter to House Ways and Means Chairman Wilbur Mills of Arkansas. Even with Kennedy's new $3.5 billion more for defense, no tax hike will be needed, said Dillon, because the economy will grow so fast that present rates and expanded spending will yield sufficient income to support a bigger budget. But Dillon left himself an out. All this will not come to pass, he indicated, if there is "a further worsening of the international situation" and defense expenditures require...
Glowing with radiant orange anticollision paint, a U.S. Air Force 707 jet lifted away from Andrews Air Force Base one morning last week and set course for South America. On board was Secretary of the Treasury C. Douglas Dillon and his 35-man delegation to the vital Alliance for Progress conference at Punta del Este, Uruguay. The delegates carried a rough outline of the shape of the Alliance and a ringing challenge from President Kennedy: "The hopes of millions of people throughout the Americas rest to a very large extent on the success of your efforts." As their jet winged...
...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...
...special meeting of the economic ministers of the Latin American nations, called by the U.S. to hammer into shape President Kennedy's Alliance for Progress, the most vital aid program in the history of the hemisphere. At the start of the conference this week, Treasury Secretary C. Douglas Dillon, leading the U.S. delegation, will propose a generous, but often stern, program. Even the minimums are staggering. To help raise the per capita income in each country by 2.5% a year, the U.S. intends to pour $1.3 billion a year into Latin America...
...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...