Word: ruml
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Special Program (Fri. 10:35 P-m., CBS). Discussion on current education by Roy Larsen, Walter Lippman, Beardsley Ruml...
Radcliffe's president necessarily must talk shop when at home, for his wife, the former Frances Ruml, was dean of the college from 1934 to 1939. Now executive secretary of the world-famed Harvard Mission on Plasma Fractionation and Related Processes, she is, he claims, "a born administrator...
This idea, put forward in the '30s by the New Deal's Brain-Truster David Cushman Coyle, has won support from conservative authorities such as the businessmen's Committee for Economic Development. Recently, Economist Beardsley Ruml, a Fair Dealer, added a new twist. The administrative budget, he argues, is made meaningless by one glaring fault: it overstates the Government's actual operating expenses by including each year an estimated $6 billion worth of items that are actually capital investments of lasting value which should be charged off over a period of years instead of being paid...
Under such a plan, transactions from one Government pocket to another would be washed out, and all Government revenues would be treated as income. Such capital expenditures as Federal National Mortgage Association mortgages, small business and rural electrification loans, and Government stockpiling would be taken out of the budget. Ruml would also set up separate corporations, float bonds to finance such capital expenditures as $4 billion worth of federal investments that could produce income to pay for themselves...
...main trouble with the Ruml plan is that it goes too far in estimating what Government investments are self-liquidating and could be handled outside the budget. A cash budget is also opposed by economy-minded lawmakers, e.g., Senator Harry Byrd, on the ground that the "fiscal illusion" of balance would open the door to greater Government spending. Actually. Congress would have the same control over spending that...