Word: reductionism
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The remainder of the speech consisted of promises of more reduction to come, and of a eulogy of General Herbert M. Lord, Director of the Budget.
"During the fiscal year, our expenditures, exciusive of the moneys applied to the reduction of the public debt and the operations of the Postal Service, amounted to $5,116,000,000. Our public debt then amounted to $23,977,000,000. We are now nearing the close of the fiscal...
Reduction in the public debt saves interest payment of $30,000,000 annually?"good pay," said the President, "for a sound policy."
On the dark side of the report, Mr. Gilbert reminds the world that next year there will be no loan proceeds to aid Germany's payments; and that eventually these payments will reach a minimum of $625,000,000 a year. The budget for 1925-26 shows an estimated...
The Situation. The tariff on sugar is 1.764c a pound. The Commission has authority to investigate demands for changes in the tariff and recommend changes based on differences in cost of production here and abroad. The President has authority to act on such recommendations, reducing of increasing specific tariffs...