Word: surplus
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Then, if we can get the fat out of the bureaucracy, stop the spending for luxurious offices, private dining rooms, etc., we will have a budget in surplus and the bubble of inflation will burst...
...Lyndon Johnson started, and Richard Nixon finished, running up a $3.2 billion surplus in fiscal 1969. Dwight Eisenhower balanced the budget three times, in 1955, 1956 and 1960; Harry Truman did it four times, in 1947, 1948, 1949 and 1951. Franklin Roosevelt, John Kennedy and Gerald Ford never...
...another motive is to raise an extra $10 billion a year, to "be held in reserve" either to reduce the national debt or, if necessary, balance the budget. Translation: the extra money is needed to make sure that revenues exceed spending in the next fiscal year and produce a surplus now estimated at up to $3 billion...
...Balancing the budget, a move important in itself, has also become the quintessential symbol of Government resolve to fight inflation. As Carter noted, "Nothing will work until the Federal Government has demonstrated that it can discipline its own spending and its own borrowing." But a one-shot, one-year surplus would barely begin to undo the damage wreaked by years of deficits: $160 billion since 1977 By some estimates, a balanced budget in fiscal 1981 would, by itself, reduce the inflation rate only by two-tenths...
...deductions for business. This would spur savings and investment, which they contend is needed to reverse the recent drop in productivity, a major cause of inflation. Carter agrees that investment-prompting tax cuts are necessary, but he argues that they can come only after the budget is safely into surplus...