Word: budgeting
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...what would be his last message to Congress on the State of the Union President Hoover put finishing touches. Also nearing completion was his message on the Budget for the first year of the Roosevelt Administration...
...first full Cabinet meeting in three months to consider economies. Members pondered the problem for two hours. Next day President Hoover called them back to the first extraordinary Cabinet session during his term, told them he was determined to turn the Government over to his successor with a balanced budget. Unless taxes were to be upped, expenditures must come far down. After the meetings the President declared that 1934 appropriations would be reduced by $700,000,000. ¶ President Hoover signed a formal request for the extradition of Samuel Insull from Greece. ¶ Received by the President...
...sports which have been abandoned this week are: basketball, hockey, track, and baseball. More than $15,000 is expected to be saved by the abolition of these ten sports. Due to the drop in football receipts this fall, the budget of the athletic council has been running considerably behind, necessitating this drastic retrenchment...
...also where, because of politics, much of it will be rejected. The resulting reduction will probably not be ample and new methods of raising revenue will have to be adopted. The government is in a dilemma, faced by the necessity of reducing necessary expenditure because it must balance the budget...
President Hoover's proposed cut of 700,000,000 dollars in government costs seems to be in accord with the strong sentiment for federal economy throughout the country. Since it would dangerously impair national credit to continue the budget along the lines of 1929, he has chosen this way of reducing it. Apparently there are two reasons for his doing this. First is his opposition to a beer bill (which would be a lucrative source of revenue to the government); and secondly the fact that a sales tax would be unlikely to pass Congress. The budget has to be balanced...