Word: outgoing
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Dates: during 1950-1959
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...Income. Proposed hikes in the federal gasoline tax, aviation gas tax and postal rates (first-class mail to a flat 5?) will, if approved by Congress, help bring income into line with outgo...
...planning to spend a whacking $5 billion for the fiscal year, largely in efforts to cope with surpluses that are encouraged by high price supports (TIME, Aug. 19). But abundant spring rainfall brought lush crop prospects, notably in the long-parched Great Plains, and the department's outgo estimate mushroomed to $6 billion-more than twice the combined outlays of the State, Justice, Interior, Commerce and Labor departments. In a rational world, good crop weather ought to count as a national blessing, but under the archaic, surplus-spawning price-support laws, it only serves to boost the already scandalous...
...Outgo of $78 billion, or $4.1 billion more than the President's January estimate. But Washington officials have conceded that 1959 spending might run as high as $80 billion. If it does, unless the economy perks up sharply during the twelve months ahead, the 1959 deficit could reach $13 billion or more...
...budget calls for pay raises for skilled military personnel, but holds down the total pay outgo by trimming manpower about 3% from all three services. Most radical novelty in the new budget: the President's request to Congress for authority to switch as much as $2 billion in defense funds from one category to another "to modify and accelerate programs on short notice if new discoveries and developments indicate shifts are desirable." Present law bars transfers of funds from one service to another...
Along with a $1.2 billion sag in estimated federal income for fiscal 1958, the extra outgo for defense erased the black ink to which the Administration pointed with pride a year ago. Instead of the estimated $1.8 billion surplus, the Administration foresees a $400 million deficit-red ink brought on by Red Sputniks...