Word: budgeting
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Finances will be the new administration's first concern. Mr. Roosevelt will make an honest effort to balance the still unbalanced budget. A 25% reduction in Government expenses?about $1,000,000,000 is definitely promised but no time limit is set. Thus if 6% is cut from each successive annual budget the Democratic President will be able to claim at the end of his term a fulfillment of this platform pledge. Despite the National Economy League's clamor. President Roosevelt will not lead a movement against the $400,000,000 Allowance to veterans for miscellaneous illnesses which have...
...well-to-do pay higher taxes, but are slowly coming to realize that sky-high rates on luxuries and big incomes fail to produce proportionate revenue in hard times and therefore defeat their own end. Thus the General Sales Tax may become the only practical means of balancing the budget...
Best news in two years came to Australian citizens last week. Thanks to a balanced budget and drastic economy, the Treasury reported a surplus of £2,750,000 for the first four months of the current fiscal year. Promptly the Cabinet moved to reduce federal taxation by £1,600,000, including a one-third cut in the land tax, and a £500,000 reduction in the property tax. Set aside for Australian wheat farmers was £2,250.000 of which £1,250,000 will be spent to relieve actual distress, the rest to be a subsidy...
Something Japanese militarists would rather not think about was held up to their noses last week: the provisional budget for 1933-34. Squint as they might, the Cabinet of white-haired Premier Viscount Saito could not get away from two facts: Japan is faced with the biggest budget and the biggest deficit in her history. Expressed in yen at par the new budget is to balance at $1.100,000,000?a figure staggering in small Japan?with an expected deficit...
Last week Massachusetts Institute of Technology announced a plan for guarding against possible future deficits. President Karl Taylor Compton said that this year's budget was balanced, but the M. I. T. faculty voted anyway to lay up a reserve as follows: Between next Dec. i and July 1, 1933, the staff will give up 10% of their salaries, with $500 exempt. If M. I. T. does not need all of this fund, it will be pro-rated back at the end of the period. The remainder of the reserve fund involves a much-discussed source of university income...