Word: budgets
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Dates: during 1970-1970
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...Trouble. The President has been courting Connally throughout his term. Connally served on the Ash commission on White House organization, which led to the creation of an Office of Management and Budget. Nixon also named him to the Foreign Intelligence Advisory Board. Connally has found himself on the receiving end of numerous presidential summonses to stop by and chat. Mainly, Nixon used Connally as a sounding board on economic policy. The big Nixon pitch to Connally, ten days before the appointment was announced, came during a White House tête-à-tête. "I recognize...
Perverted Power. Boasting an annual budget of $11.5 million, Traverse City Hospital wields considerable influence in the town (pop. 17,700). The manager of the local Sears, Roebuck and Co. store, David C. Zemke, wrote to Sommerness: "We will refrain from further use of this media. Please assure your employees that we value their patronage very highly and are indeed sorry if we offended them." After hospital officials threatened to move the institution's bank accounts, the National Bank and Trust Co. also canceled its advertising. So did Robert Dean, president of Red Mill Lumber Co., pointing out that...
...which of two policies to emphasize. Should he aim for a modest rate of economic recovery, risking a continuation of high unemployment? Or should he strive for a faster snapback, risking more inflation later? Every sign now indicates that the President, prodded by Chief Economist Paul McCracken and Budget Boss George Shultz, has made a decision to go for speedy, job-creating growth. It remains to be seen whether John Connally, Nixon's surprise choice for Secretary of the Treasury, will alter the strategy. Though he has Texas populist roots, Connally is considered to be an economic conservative...
...easiest way to put people back to work is to put more money into the economy. That can be done by expanding the budget deficit or increasing the money supply, or by using a combination of both. In either case the President's power is limited. He can increase the budget only if Congress agrees, and he may well run into resistance from Capitol Hill's fiscal conservatives, as well as from Democratic liberals who are not at all eager to help his re-election drive. One possibility is that Nixon will offer only token opposition to spending...
...onstage credentials, there is some skepticism as to whether he is the right man for the job. Swedish critics have tended to prefer his directing to his administrating. In Stockholm, where the government picks up all but $800,000 of the Royal Opera's annual $6,400,000 budget, Gentele never had to bother with such problems as fund raising and the kind of bitter union bargaining that last year forced the Met to cancel half its season. If the Met has its way, the fund-raising load may be lighter in the future: last week the company announced...