Word: dillons
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...made it clear to the Senate Foreign Relations Committee that the Kennedy Administration will not be setting any new foreign policy worlds afire come Jan. 21. Again, as chairman of his Council of Economic Advisers Kennedy chose Liberal Walter Heller-but the new Treasury Secretary will be Republican Douglas Dillon, who last week warned Congressmen not to expect any revolutionary New Frontier economic policies (see BUSINESS). Indeed, in almost every area of Government, Kennedy has selected the wilder-eyed liberals to fill second ary posts-and placed them under the thumbs of able moderates...
...past, John Kennedy may look more favorably upon them as means to increase federal income and spur the economy. But it was less likely that Kennedy would stay with Ike's spending proposals, or meet his challenge to balance the budget. Said incoming Treasury Secretary C. Douglas Dillon, in testifying before the Senate Finance Committee last week (see BUSINESS): "Everything leads me to believe in the possibility of a deficit...
Brain Tryst. The day is gone when Henry Ford boasted: "It is one to me whether a man comes from Sing Sing or Harvard." Kennedy's Cambridge-on-the-Potomac includes 17 high Harvard-men besides the President-elect. Four are Cabinet members-designate: Treasury Secretary C. Douglas Dillon ('31), Defense Secretary Robert S. McNamara (Business School '39), Postmaster General J. Edward Day (Law '38) and Attorney General Robert F. Kennedy ('48). Others include former Harvard Law School Dean James M. Landis, reformer of regulatory agencies, Assistant Defense Secretary Paul Nitze ('28), Federal Housing...
...federal budget will probably run a deficit in fiscal 1962, despite the Eisenhower Administration's projection of a $1.5 billion surplus. So last week predicted Douglas Dillon, who, as Treasury Secretary in the Kennedy Administration, can be expected to have a major role in the nation's economic policy. Appearing before the Senate Finance Committee for hearings on his confirmation, Dillon said that he expects the budget deficit because of a decrease in tax revenues, "particularly in the area of corporate profits." He also gave his views on several economic problems, on others skillfully declined to commit himself...
...would rather have lower rates and fewer loopholes. If action is to be taken, it is a propitious time now, rather than waiting a year or so." But he has "no present intention" of recommending a cut to curb the business downturn, since it would increase the budget deficit. Dillon hopes to submit at least a partial program for reform by April 1, but feels that long-range tax reforms would be better in a year of surplus. He expects to take a "detailed look" at the 4% exemption on dividend income, expense-account loopholes, depletion allowances...