Word: outgoing
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...that the budgetmakers can see how to get the most out of the money on hand or in prospect. Modern government is a collection of fragmented divisions and departments, each sure of its own manifest destiny and naturally inclined to expand without worrying whether total income balances total outgo. It is Rowland Hughes's job to provide the kind of lid for uninhibited government that limited funds impose on a housewife or a businessman-and to hold the lid down with the best...
...revenues, higher than estimated, plus careful cost-cutting, can wipe out the $1.7 billion federal deficit and balance the budget. After discussing proposed 1957 expenses with the President at Gettysburg, Budget Director Rowland Hughes told reporters that the Government's income should match its estimated $63 billion outgo, not only in 1957 but in the current fiscal year ending June...
...this pattern of living, charge and checking accounts have become the key means of watching income and outgo. Instead of counting the cash in the envelopes, families now leaf through their check stubs at the end of the month. Says one Seattle housewife: "Practically all our expenses-and those of everyone I know-are predetermined. We have certain payments we have to make-house, car, payments for food, clothes for ourselves and our three children. It doesn't take a slide-rule budget to make those payments. Our biggest concern is where our money goes, and the checkbook record...
...expires June 30. At current rates of spending, the debt will fall between $281 and $285 billion by the end of the year. President Eisenhower will probably ask Congress to boost the limit by the end of this month. But this time, he will merely set forth anticipated income, outgo and deficit, leave it up to Congress to work out its own ceiling...
Continuing to dominate the budget are expenditures for major national-security programs (defense, military aid, atomic energy, etc.). Estimated at $40.5 billion for 1956, cold-war spending would account for 65% of all the Government's outgo. The biggest part of that outlay ($34 billion) would go for defense, and would be spent to fit Dwight Eisenhower's concept of an efficient military force in a nuclear age: more air power, more fire power, less manpower. Said Old Soldier Eisenhower: "Never in our peacetime history have we been as well prepared to defend ourselves...