Reducing the Public Debt. 86-2, 1960 |
From inside the book
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Page 14
... simply how to reduce it . That is what we are faced with today . One of the best selling current books by Parkinson has a law that can be summarized as " expenditures will always rise to meet income , " which I think has been ...
... simply how to reduce it . That is what we are faced with today . One of the best selling current books by Parkinson has a law that can be summarized as " expenditures will always rise to meet income , " which I think has been ...
Page 16
... simply be that much greater at a later date and our ability to undertake it will be correspondingly weaker . From an economic point of view , the payment year after year of nearly $ 10 billion in interest on money we have borrowed and ...
... simply be that much greater at a later date and our ability to undertake it will be correspondingly weaker . From an economic point of view , the payment year after year of nearly $ 10 billion in interest on money we have borrowed and ...
Page 17
... simply provide that the budget submitted to Congress for each fiscal year , beginning the date of enactment , may not provide for expendi- tures in excess of 90 percent of the estimated net budget receipts of this United States for each ...
... simply provide that the budget submitted to Congress for each fiscal year , beginning the date of enactment , may not provide for expendi- tures in excess of 90 percent of the estimated net budget receipts of this United States for each ...
Page 25
... simply continuing to let the debt mount . I did a little amortization study based upon two assumptions , first that we would not increase the debt , but would simply continue to pay the mandatory interest obligations every year , and ...
... simply continuing to let the debt mount . I did a little amortization study based upon two assumptions , first that we would not increase the debt , but would simply continue to pay the mandatory interest obligations every year , and ...
Page 29
... simply to continue paying the interest for that period of time . We don't know what chance Congressman Wright's resolution has at this ses- sion , but we imagine very little chance . " Balancing the budget , " which is meaningless in ...
... simply to continue paying the interest for that period of time . We don't know what chance Congressman Wright's resolution has at this ses- sion , but we imagine very little chance . " Balancing the budget , " which is meaningless in ...
Common terms and phrases
$283 billion debt 85th Congresses Accounting Act administration American appropriation billion in interest borrow Budget and Accounting budget receipts budget submitted Chairman DAWSON cheaper to pay Clare Hoffman completely retire Congressman Jim Wright Congressman Wright cost debt by paying debt payment debt retirement DEVINE dollar economic ernment estimated expenditures fact FASCELL Federal debt Federal Government Fort Worth Star-Telegram Frank Ikard go along exactly GUBSER HALEY income increase inflation interest and $283 interest rates legislation line-item veto loans obligations owe the debt pay the interest paying $495 billion present national debt President public debt reduce the debt reduce the national Representative James Representative Jim Wright Representative Wright require retire the debt revenue spending statement taxes taxpayers Texas Democrat thing Thomas Pelly tion told the House total amount U.S. Representative Uncle Sam Wichita Falls World World War II Wright and Ikard Wright's proposal
Popular passages
Page 3 - Be it enacted by the Senate and House of Representatives of the Vnited States of America in Congress assembled, That this Act may be cited as the Bank Holding Company Act of 1947.
Page 24 - STATEMENT OF HON. JIM WRIGHT, A REPRESENTATIVE IN CONGRESS FROM THE STATE OF TEXAS Mr.
Page 14 - Congress enacted legislation which in part made an appropriation for 1 percent of the entire debt to be set apart as a sinking fund for the payment of the national debt.
Page 57 - The payment of the principal of a debt tends neither to impoverish a nation nor to retard its material development ; but, on the other hand, the maintenance of the principal and the constant payment of accruing interest tend to cripple the productive capacity of any people.
Page 2 - ... ensuing fiscal year" in paragraph (6) "and projections for the four fiscal years immediately following the ensuing fiscal year".
Page 18 - STATEMENT OF HON. ROBERT W. HEMPHILL, A REPRESENTATIVE IN CONGRESS FROM THE STATE OF SOUTH CAROLINA Mr. HEMPHILL. Mr. Chairman, and members of the committee...
Page 4 - ... present high price of fuel has caused them to make a more careful investigation of their pumping costs, with the result that in practically every case it has been found that the saving to be made in one year of operation with electric power will be sufficient to pay for the cost of a new installation. It is estimated that by the end of the next fiscal year the total connected pumping load will be approximately 450 horsepower, which, together with the lighting and power load in the towns where...
Page 1 - The Board shall prepare and submit to the President, and, at the same time, to the appropriate committees of Congress, an annual budget of the expenses and other items relating to the Board which shall, as revised, be included as a separate item in the budget required to be transmitted to the Congress under section 201 of the Budget and Accounting Act, 1921 (31 USC 11). " (k) The Board shall submit to the President, and, at the same time, to...
Page 58 - ... us, and poor enough to put us on guard. During the 154 years from 1792 through 1945 we have had ninety-three years of net surplus in our national budget and sixty-one years of net deficit. 8. Throughout our history the greatest obstacles to national financial strength, and the most acute dangers of fiscal collapse, have never been the results of inadequate or failing resources, but always consequences of weak financial policies. Increasing national wealth has always enabled us to pay down the...
Page 3 - To provide that until the national debt is retired, not less than 10 per centum of the net budget receipts of the United States for each fiscal year shall be utilized solely for reduction of the national debt...