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Benefit payments out of the Old-Age and Survivors Insurance Trust fund during 1947 are estimated at 407 million dollars, while withdrawals by the States from the Unemployment Trust fund for compensation payments are expected to total 1 billion dollars. These disbursements are financed out of social security contributions.
She shook her head again. "No about a quarter of them. I was coming for help when the fight started. They're all bleached out. And it looks like like chromazone!" That really hit me. They developed the stuff to fight off fungus on Venus, where one part in a billion did the trick.
First, much of its physical plant post offices and other buildings-is obsolete and inadequate. Many new buildings and the modernization of present ones are essential if we are to have improved mail service. The second problem is the Department's fiscal plight. It now faces an annual deficit of one-half billion dollars.
Behind them is a stalwart business representing, with parts and accessory makers, an investment of more than a billion and a quarter of dollars. Four hundred thousand men, or more than five times the strength of our standing army, depend upon it for a livelihood, and more than five millions of people are touched or affected by it every day.
If government activities are fully maintained, there is a good prospect of our becoming an eighty billion dollar country in a very short time. With such a national income, present tax laws will yield enough each year to balance each year's expenses.
The fiscal 1969 budget has expenditures of approximately $186 billion, with total estimated revenues, including the tax bill, of about $178 billion. If the Congress enacts the tax increase, we will reduce the budget deficit by some $12 billion.
It is estimated that certificates of ownership in human beings, or, as you called them, titles to property, to the value of forty billion dollars, together with hundreds of millions of paper money, went up in that great blaze, which we devoutly consider must have been, of all the innumerable burnt sacrifices which have been offered up to God from the beginning, the one that pleased him best.
However, if we assume that we shall grow as fast in the future as we have grown in the past, we can get a good idea of how much our country should grow in the next 50 years. At present our total national production is $255 billion a year. Our working population and our output per worker are increasing.
The object is to put capital private as well as public to work. We want to get enough capital and labor at work to give us a total turnover of business, a total national income, of at least eighty billion dollars a year.
Now, this past year in 1977, you, the Congress, and I together passed a new agricultural act. It went into effect October 1. It'll have its first impact on the 1978 crops. It will help a great deal. It'll add $6 1/2 billion or more to help the farmers with their price supports and target prices.
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