Word: humphrey
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Dates: during 1950-1959
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During the fiscal year ending June 30, the U.S. will take in $67.7 billion instead of an estimated $64.5 billion. This will be more than enough, Secretary of the Treasury George Humphrey told Congress last week, to absorb an increase in Federal spending from the budgeted $64.3 billion to $65.9 billion. As a result, the U.S. budget for fiscal 1956 will have a surplus of $1.8 billion-eight times the expected $230 million. Treasury's Humphrey had a happy explanation for the welcome news: "The upsurge of prosperity in the nation has increased current Federal budget receipts...
...time Humphrey finished talking, the argument about what to do with all that surplus had already begun. There was some pressure in Congress, largely from Democrats, for an election-year tax cut, but George Humphrey laid down a firm Eisenhower Administration line for another kind of cut: the surplus should be used, he said, to "make a most welcome reduction in our huge [$276 billion] national debt...
...that's where the hero (Humphrey Bogart) comes in. Sportswriter Bogart is all too ready to reach for the folding money, even if he has to get his hands a little dirty. Nick offers him 10% of Toro's take to handle...
...income for March climbed to a record annual rate of $315 billion, a gain of $19 billion over last year. Weeks conceded that the economy is showing soft spots in autos and residential construction, but thought there was nothing to worry about. But Weeks-along with Treasury Secretary George Humphrey, Presidential Economic Adviser Arthur Burns and others high in the Administration-was worried about the Federal Reserve Board's boost in the discount rate (TIME, April 23). Said Weeks: "The tight money situation might prove to be a handicap in business expansion and sales...
...Harriman's right hand man, added: "A country-club quartet-a small clique of self-appointed and self-anointed men who have never exposed themselves to the mandate of a national election-now rules the White House and runs our nation. These men-Sherman Adams, Charles Wilson, George Humphrey and John Foster Dulles-are the Richelieus and Rasputins of 20th century America...