Reducing the Public Debt: Hearings Before a Subcommittee of the Committee on Government Operations, House of Representatives, Eighty-sixth Congress, Second Session, on H. R. 1337 [and Other] Bills to Amend the Budget and Accounting Act, 1921, to Provide for Reduction of the Public DebtU.S. Government Printing Office, 1960 - 59 pages Considers H.R. 1337 and related bills, to amend Budget and Accounting Act to make mandatory, except in time of war, two yearly reductions in national debt. |
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Page 6
... period of war , if it comes . The high spending of the Federal Government brings on a lot of things . It brings on inflation . I don't know where the thinking of this Congress , and I say this advisedly , I don't know where the think ...
... period of war , if it comes . The high spending of the Federal Government brings on a lot of things . It brings on inflation . I don't know where the thinking of this Congress , and I say this advisedly , I don't know where the think ...
Page 8
... period of 25 or 30 or 35 years accumulated something . Mr. FASCELL . The point is , as you have already caught , that if the relationship remains the same , then you don't destroy this value , that is the relationship of the debt to the ...
... period of 25 or 30 or 35 years accumulated something . Mr. FASCELL . The point is , as you have already caught , that if the relationship remains the same , then you don't destroy this value , that is the relationship of the debt to the ...
Page 9
... periods . In other words , when he spent more than his allocation for the first fiscal quarter of 3 months , he ... period , he came to the Congress and said : I am just about going to have to close down the Post Office Department ...
... periods . In other words , when he spent more than his allocation for the first fiscal quarter of 3 months , he ... period , he came to the Congress and said : I am just about going to have to close down the Post Office Department ...
Page 13
... period . Now if you add $ 109 billion to that , by paying the principal on the 10 - percent basis , over a period of 34 years we will end up completely free of the $ 285 billion debt , so if you analyze the figures rather thoroughly ...
... period . Now if you add $ 109 billion to that , by paying the principal on the 10 - percent basis , over a period of 34 years we will end up completely free of the $ 285 billion debt , so if you analyze the figures rather thoroughly ...
Page 21
... periods of good times we do allow this sort of thing to take place . If we don't allow ourselves the luxury of using slippery artithmetic , we will have to admit that the obligations of the future taxpayers are going up each and every ...
... periods of good times we do allow this sort of thing to take place . If we don't allow ourselves the luxury of using slippery artithmetic , we will have to admit that the obligations of the future taxpayers are going up each and every ...
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 2 - Be it enacted by the Senate and Souse of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Arms Control and Disarmament Act Amendments in 1975".
Page 24 - STATEMENT OF HON. JIM WRIGHT, A REPRESENTATIVE IN CONGRESS FROM THE STATE OF TEXAS Mr.
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 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 1 - ... 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 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...