Word: budgeting
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...Although the income available for the Faculty has declined far below that originally estimated for 1932-33, the reductions in the Faculty budget are relatively slight. Salaries of all teaching officers, except those annual appointees whose salaries vary in direct proportion to the amount of work assigned them and are decreased or increased even in normal years in accordance with the work available for them, were not reduced, and the rate of salary paid teaching officers whose salaries are fixed by the work for which they are employed was not reduced. It is fortunate that past economies have made...
...Woodin's assignment is Cabinet's hardest. In the next eleven months the Treasury will be confronted with refinancing more than half the public debt of $20,907,000,000. In addition there must be new taxes to balance the Budget, new economies to cut the Deficit. Mr. Woodin was not ready last week to talk policies. All he would say: "I've more respect for this job than anything I've ever undertaken. Let me get my feet on the ground. ... I must saw wood and keep quiet. . . . What Secretary of the Treasury...
Director of The Budget. Lewis Williams Douglas, 38, of Phoenix, Ariz, will not sit with the Cabinet but his presence will be strongly felt whenever they meet. Personal friendship aside, the new President plucked him out of the House to head the Budget Bureau because nowhere else could he find a better combination of tact and tenacity, industry and intelligence...
...Before Budget Director Douglas lies a hard anonymous job, one that will make him many enemies, no friends. Upon him rests the party pledge of cutting Federal expenses 25%. But he is a do-or-die budget balancer and, though himself a veteran, is committed to "purging the pension rolls," even to the extent of knocking out the $400,000,000 now paid for non-military disabilities. When it comes to Government spending, able "Lew" Douglas, with the President's backing, will issue crisp orders to the ten members of the Cabinet the theory: they will obey...
...common among those who favor this "balance-the-budget" theory to point out that just as businesses and families pare down expenditures to the bone and beyond, so ought governments to adopt a similar course. And the heads of federal, state, and city departments have generally bowed to this show of logic. But this is an outworn and economically unsound argument. The time for the government to retrench and take stock is not in a depression, but in times of prosperity. In a period when there is considerably little money passing about, when individuals and private businesses are postponing their...