Word: fiscal
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...going to see a lot of very close votes and probably a lot of vetoes." So predicted a top economist for the Federal Government last week as Jimmy Carter put the finishing touches on the fiscal 1980 budget that he will submit to Congress on Jan. 22. Budget battles between the White House and Congress are an annual event, but this year the President, Democratic leaders and most Republicans are in rare general agreement. They know that there is a conservative tide running in the country and that federal spending must be checked. So what is the fight...
Battle-tested and somewhat bruised from his past encounters with Congress, Carter is playing it smarter this year. He has personally shaped the broad outlines of the budget. They are: total spending of $533 billion, about 8% more than in the current fiscal year, which ends on Sept. 30; a projected deficit of $29 billion, a respectable $12 billion less than this year. Well aware of growing public concern over the Soviet military buildup, Carter is proposing a 10% boost in defense spending, to $122.8 billion, which more than offsets 7% in projected inflation and thus meets his promise...
...present decade of fiscal woe began, most college leaders were wrapped in a hazy optimism. Enrollments were soaring, new buildings sprouted everywhere, and Ph.D.s were produced by the carload. As a result, the shocks of the '70s hit the schools like a scale8 earthquake. Says University of Chicago Sociologist Edward Shils: "We went mad over higher education. Giving every teen-ager an opportunity to go to college became a mark of American grandeur in the world. It was a silly delusion." Northwestern's Ellis puts it more simply: "We let ourselves get fat." Sound management principles were ignored...
...private-college crunch as a blessing in disguise. Says the Rev. Paul Reinert, chancellor of St. Louis University: "Private education should grow a little leaner." Perhaps it should. But then too, the public system has overbuilt and overborrowed as well. If the private schools suffer most as the fiscal crisis deepens, that will be a consequence no one intended. The nation's large-and often excellent-public system was designed, after all, to supplement the private colleges, not to supplant them...
...schools can match the fiscal foresight of the law school of New York University, which bought a New Jersey noodle factory in 1947 for $3.5 million. After receiving millions in profits over the years from the sale of spaghetti and macaroni, the school sold the company for $115 million in 1976. That may be the only use of pasta to finance higher education, but other novel strategies for coping with the fiscal crunch have yeasted up all over. Among them...