Reducing the Public Debt. 86-2, 1960 |
From inside the book
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Page 8
... whole problem . Nonetheless , I want to tell my colleague and others interested in this type of legisla- tion , I am not necessarily automatically impressed with the argument of those who are opposed to this idea . I think it can be ...
... whole problem . Nonetheless , I want to tell my colleague and others interested in this type of legisla- tion , I am not necessarily automatically impressed with the argument of those who are opposed to this idea . I think it can be ...
Page 21
... whole country properly understand . As a result , you hear all sorts of figures bandied about . For ex- ample , I have heard it said that the combined action of the 83d , 84th , and 85th Congresses was a reduction in budgetary requests ...
... whole country properly understand . As a result , you hear all sorts of figures bandied about . For ex- ample , I have heard it said that the combined action of the 83d , 84th , and 85th Congresses was a reduction in budgetary requests ...
Page 25
... whole debt . I discovered , secondly , that if we paid it off no more rapidly than at 1 percent a year , which would amortize the debt in a hundred years , that at the end of this 100 years it would have cost us less by some $ 485 ...
... whole debt . I discovered , secondly , that if we paid it off no more rapidly than at 1 percent a year , which would amortize the debt in a hundred years , that at the end of this 100 years it would have cost us less by some $ 485 ...
Page 27
... whole century , we can correct the mess we've gotten our Government into in the relatively short span of less than 30 years . Representatives Ikard and Wright have come up with some rather astounding figures in applying the rule of ...
... whole century , we can correct the mess we've gotten our Government into in the relatively short span of less than 30 years . Representatives Ikard and Wright have come up with some rather astounding figures in applying the rule of ...
Page 32
... whole principal . That , says Representative Wright , is neither nice nor necessary - in view of which he holds up the bright promise of retiring the national debt over the next 100 years , at an end saving of more than $ 485 billion ...
... whole principal . That , says Representative Wright , is neither nice nor necessary - in view of which he holds up the bright promise of retiring the national debt over the next 100 years , at an end saving of more than $ 485 billion ...
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...