Word: johnsons
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Dates: during 1960-1969
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...Johnson's mood was solemn as he spoke of the war. "I regret more than any of you know," he said, "that it has not been possible to restore peace to South Viet Nam." But he scorned critics who have contended that Viet Nam has drained needed funds from butter for guns. "We have been able in the last five years to increase our commitments for such things as health and education from $30 billion in 1964 to $68 billion in the coming fiscal year. That's more than it's ever been increased...
Broad and Deep. The U.S., said Johnson, continues to enjoy an unequalled economic boom. "Our prosperity is broad and deep," he said. "It's brought record profits, the highest in our history, record wages. Our gross national product has grown more in the last five years than in any other period in our nation's history." The G.N.P. was $589,200,000,000 when Johnson took office; for calendar 1968 it is $861 billion. Unexpectedly, he also announced that the U.S. has achieved an international balance of payments surplus for the first time since 1957, which should...
...separate message to Congress, Johnson proposed a budget for the fiscal year starting July 1 that comes to $195,300,000,000, an $11.6 billion jump from the present year's estimated total. The nation can afford this new federal spending, Johnson explained, precisely because it is so prosperous. He predicted budget surpluses of $2.4 billion for fiscal 1969 and $3.4 billion for fiscal 1970. Total defense outlays will creep up only $500 million to $81.5 billion, and the proportion going for Viet Nam will drop, for the first time, from 35.5% to 31.2%-partly because the costly bombing...
Campaign Commitments. Johnson's other budget proposals for fiscal 1970 include ending the distinction between first-class mail and airmail, since much long-distance mail now goes by air anyway; the new flat rate would be 7? an ounce. Congressional salaries would go from $30,000 to $42,500 a year, those of Cabinet members from $35,000 to $60,000. (Last week the Congress approved a 100% salary boost for the President, to $200,000.) Johnson requested no new money for the U.S. supersonic transport and suggested cuts of $300 million in space spending, $540 million in farm...
Nixon, of course, can revise the proposed budget. Though he and President Johnson conferred by telephone for 40 minutes shortly before Johnson gave his State of the Union speech, Nixon is only tentatively committed to extending the 10% income surtax for another year. Because Nixon is pledged to halt inflation, however, he will find it doubly difficult to end the surtax and thus erase the deflationary surplus Johnson hopes to create. Johnson asked an overall 13% increase in social security benefits; in the campaign, Nixon proposed to tie social security payments to a cost-of-living index so that benefits...