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 12
... systematic debt reduction . Congress must then assume the responsibility of supporting such a program . I have suggested a method of limiting the President in his sub- mission of the budget primarily because we do not have the authority ...
... systematic debt reduction . Congress must then assume the responsibility of supporting such a program . I have suggested a method of limiting the President in his sub- mission of the budget primarily because we do not have the authority ...
Page 16
... systematically reduc- ing the national debt each year ? " Eighty - eight percent of them an- swered affirmatively - the ... systematic reduction of the national debt when it is economically possible , the task will simply be that much ...
... systematically reduc- ing the national debt each year ? " Eighty - eight percent of them an- swered affirmatively - the ... systematic reduction of the national debt when it is economically possible , the task will simply be that much ...
Page 18
... systematic debt reduction . Since the House of Representa- tives is responsible for controlling the purse strings of the Nation , it must , in my opinion , assume responsibility for supporting such a pro- gram . In closing , may I say ...
... systematic debt reduction . Since the House of Representa- tives is responsible for controlling the purse strings of the Nation , it must , in my opinion , assume responsibility for supporting such a pro- gram . In closing , may I say ...
Page 24
... systematic plan of debt retirement , and being the author of a bill now pending in the Ways and Means Committee , which would have a similar effect , I thought it worthwhile 24 REDUCING THE PUBLIC DEBT Wright, Hon Jim, a Representative ...
... systematic plan of debt retirement , and being the author of a bill now pending in the Ways and Means Committee , which would have a similar effect , I thought it worthwhile 24 REDUCING THE PUBLIC DEBT Wright, Hon Jim, a Representative ...
Page 26
... systematic method of paying it off . I have no particular pride of authorship in my bill , which is in another committee , but I am grateful to you for letting me come on the spur of the moment and sit in with you and talk about this ...
... systematic method of paying it off . I have no particular pride of authorship in my bill , which is in another committee , but I am grateful to you for letting me come on the spur of the moment and sit in with you and talk about this ...
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...