Word: outgoing
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...Outgo...
...Civil Service Commission's retirement fund. Thus the "saving" was only a paper cutback of $500 million, much of which must be paid. The fiscal crisis could not be figured out of existence. He could solve it only by 1) slashing all Government spending, including defense, until outgo meets income, or 2) getting the ceiling lifted by a special session of Congress. Humphrey's own Treasury began enforcing an "austerity" drive of strict economy, to set other bureaus an example. But Humphrey was convinced that a special session would have to be called...
...contributions is not needed, and that larger pensions could be paid out of current Social Security receipts. The Federal Government is now taking in $3 for every $1 it pays out in benefits. It has already built up a reserve (in Treasury certificates) of $12 billion. While outgo from Social Security contributions would rise as the U.S. population gets older, the contributiosn would rise much faster under the new bill. By 1990, according to Congress' own estimates, the reserves would be more than $90 billion, while outgo in that year would be $11 billion. Although the reserve would start...
...balance of trade shows more exports than imports, we have been accustomed in years past to call it a "favorable" balance. It is obviously an imbecility to attach the word "favorable" to a situation in which the outgo exceeds the income. No man would call that situation favorable in his private business or his personal accounts. It is unfavorable...
...nation got a sharp warning. A joint congressional committee of tax experts estimated last week that at the present rate of income and outgo, the U.S. would be in the red another $3 billion by next year. Such big round numbers had lost their ability to shock, the government was already $252 billion in debt. But one fact could be understood. If even in prosperous peacetime a government did not keep out of the red, then it was playing with economic dynamite...