Word: fowlerize
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...There is a time and a season for everything," intoned Treasury Secretary Henry Fowler, echoing Ecclesiastes. "Now is the time and the season for this tax increase." Members of the House Ways and Means Committee did not exactly greet Fowler's message as Holy Writ. Their refractory mood was shared by most of their congressional co'leagues. With constituents' mail all but unanimously opposed to President Johnson's proposed 10% surcharge on corporate and personal income taxes, Capitol Hill was loudly unconvinced of the Administration's economic and political sagacity in seeking a tax boost...
...founded on anticipation of a huge and inflationary federal budget deficit. Having closed the 1967 fiscal year July 1 with a deficit of about $11 billion, second highest since World War II, the Administration now estimates that the next year's will be $13.6 billion. Treasury Secretary Henry Fowler recently admitted that it might go as high as $24 billion, mostly because of the Viet Nam war. Warned Martin in Toledo: "We must have adequate, effective-and above all -prompt tax action that would whittle down the deficit to manageable proportions. Delay would permit inflationary forces to gain momentum...
Some firms also figure that the rising federal deficit will force the Government to pre-empt borrowable funds later in the year. Indeed, Treasury Secretary Henry Fowler admitted to Congress last week that falling corporate tax revenues and climbing Pentagon spending will push this year's deficit to $11 billion, or $1.3 billion more than the Administration forecast only four months ago. Fowler also predicted that the red ink might soar to an inflationary $24 billion in election year 1968 if war costs continue to escalate or if Congress fails to raise taxes. Accordingly, Fowler asked...
...asking for the withdrawal of forces as a check on the increasingly worrisome U.S. gold drain, Treasury Secretary Henry Fowler said that this was a necessary precaution against the possible economic erosion of the Western Alliance. For an America caught up in a war in Asia, and a vigorous Europe with no foreign entanglements, the first major withdrawal of "cold war" troops from the Continent also signaled a belated adjustment to Realpolitik...
Tony Parker, Jim Harper, and John Clement will be among the 12 to race in the NEISA Singlehanded Championship May 21. Their boats reached incredible speeds in the 35-knot wind Sunday and often came close to capsizing. John Bullard and Win Fowler also raced, but failed to qualify...