Word: impound
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
Recent Presidents have not hesitated to impound when it suited their purpose. In 1942 Franklin Roosevelt ordered the Secretary of War to establish monetary reserves by the "deferment of construction funds not essential to the war effort." A year later the Senate was disturbed enough by F.D.R.'s impoundment policies to impose some restrictions on them. But the House would not go along, arguing that in time of war. the Chief Executive's power over the budget should not be restrained. In 1949 Harry Truman withheld funds to build a 58-wing Air Force when he thought...
...congressional furor building against Nixon's policies is especially ominous. In his budget message, the President did not specifically threaten to impound funds that Congress might appropriate for the programs that he wants to eliminate. He did not have to; no Representative or Senator could be unaware that the President already has decided to impound roughly $4 billion that Congress wanted spent this fiscal year on highways, control of water pollution, and farm and other programs. His tactics have unified Congressmen of every ideology against what they consider a defiance of their constitutional power to control spending...
...raised by a 15% surcharge on present income taxes. An income tax increase is unlikely this year, but it is a real possibility for 1974. Nixon could call for a raise -and blame Congress-if Congress mandates greater spending than he wants, the courts rule that he cannot impound the funds and the economy becomes so strong that big budget deficits would be inflationary...
...version of the fiscal '73 budget and a budget for fiscal '74, which begins in July. It is unlikely that he will reach his $250 billion limit for this year. Something like $254 billion is more probable, but to get that Nixon would have to impound as much as $4 billion in funds already approved by Congress and thus risk a battle with Capitol Hill. On the assumption that Nixon will hit the $254 billion mark, Alan Greenspan, a member of TIME'S Board of Economists and a frequent Nixon adviser, has reduced his estimate of this...
...Nixon would simply refuse to spend some of the money which Congress had appropriated. Congress is the branch of government delegated to make final decisions on the budget, and Sen. Sam J. Ervin of North Carolina, a constitutional scholar, promised that he would bring suit if Nixon tried to impound money which Congress had decided to spend...