Word: budgeting
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...Meanwhile, nothing could be done about balancing the Federal budget now running into debt at the rate...
...Board of Estimate pledged a $40,000,000 budget cut-half in salaries, half in other expenses-to bankers who had helped the city out of a hole. After the salary cut had been made, Mayor O'Brien began to muse aloud to the Press to the effect that the rest of the reduction was just a "hope" which did not bind the city and that increased revenue from bridge tolls would be "very appropriate." From such talk the impression was inescapable that Tammany was weaseling on its economy promises...
Whence was to come the extra $130,000,000 to balance the next budget? Nobody wanted to increase excise ("nuisance") taxes. A levy on interstate truck traffic was a shot in the dark. The President-elect had barred the sales tax. Out of much talk evolved a proposal to fall back upon the income tax as the only likely source of new revenue. When the conference broke up near midnight Speaker Garner and Senator Robinson outlined almost in unison the following plan...
...deficit at the half-year stood at $1,159,286,502. Gone is any hope of balancing this year's budget. -Speaker Garner talked of reducing single exemptions from $1,500 to $1,000 ignorant of the fact that such a cut had already been made in the 1932 Revenue...
...Paul, whose pastor for many years had been Howard Y. Williams, now secretary of Professor John Dewey's League for Independent Political Action. People's was down-at-heel, in a shabby neighborhood. Preacher Beale stepped up its program, managed this year to increase its budget...