Word: offing
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Dates: during 1970-1970
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Before he left the capital, the President made a show of reluctance as he signed a sweeping income tax revision bill that also includes a 15% increase in Social Security benefits (TIME, Dec. 26). The Treasury estimates that the new legislation will increase federal revenues by $3.7 billion in the...
$200 Billion Neighborhood. To spur him on, there is the lesson of what is happening in the current fiscal year, when federal spending may well work out to total more than Nixon's hoped-for ceiling of $192.9 billion. The fat $5.8 billion surplus that the Administration once so...
The Administration's planning for the next fiscal year is clouded by varying guesses about how serious the 1970 business slowdown may become. Presidential Assistant John Ehrlichman and Budget Director Robert Mayo were working with Nixon in California to put the final touches on the new budget. Part of...
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Since Nixon has ruled out a budget deficit, there are only two things that he can do to produce a balanced budget in the neighborhood of $200 billion. He must find new taxes to add to federal revenues, and he must hack away with determination at the spending requests that...