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It should report in detail to the Budget Committee, so that the General Committee may have an opportunity to compete for the prizes offered for the best report of a successful Demonstration. Suggestions for the Sub-Committee During the hours of exhibition the Demonstration Home should be in charge of a capable woman of suitable personality.
First, one of our initial acts was to revise, with the cooperation of the Congress, the Budget prepared before this Administration took office. Requests for new appropriations were greatly reduced. In addition, the spending level provided in that Budget for the current fiscal year has been reduced by about $7,000,000,000.
The budget bill I vetoed would have reversed this achievement and raised taxes on nearly 8 million of these people. We should not do that. I also agree that the people who are helped under this initiative are not all those in our country who are working hard to do a good job raising their children and at work. I agree that we need a tax credit for working families with children.
But we should do all we can to make sure our children are being trained as good and useful citizens in the critical times ahead. Tenth, a major increase in taxes to meet the cost of the defense effort. The Economic Report and the Budget Message will discuss these subjects further.
He had only just digested Tom Ryfe's unwelcome missive, announcing somewhat vaguely that the revenge for which he panted must be delayed two or three days at least, and had cursed, energetically enough, his own friend's mismanagement of the affair, with the scruples entertained by the other side, when a fresh budget was placed in his hands, and he opened the envelopes as people often do, without looking at their addresses: thus it fell out, that he read the anonymous letter directed to his wife, asking for a meeting that same night, in the vicinity of his own house.
The simple but frustrating problem of making expenses match revenues something American families do and the Federal Government can't has caused crisis after crisis in this city. Mr. Speaker, Mr. President, I will say to you tonight what I have said before and will continue to say: The budget process has broken down; it needs a drastic overhaul.
I am going to give you a chance to total your budget, and then I demand one half of the income from Father's estate above household expenses; and if I don't get it, on the day I am eighteen I shall go to John Gilman and say to him what I have said to you, and I shall go to the bank and demand that a division be made there, and that a separate bank book be started for me."
After this confession of an involuntary profiteer the tax was agreed to. But the farmers, with next year's Budget in view, are praying that the conscientious CHANCELLOR will not invest his surplus profits in land. Wednesday, July 4th. We all know the ex-poacher-turned-game-keeper.
Financing World War II left us with a tremendous public debt, which reached 279 billion dollars at its peak in February, 1946. Beginning in July, 1946, when war and reconversion financing had ended, we have held quite closely to the sound standard that in times of high employment and high national income, the Federal Budget should be balanced and the debt reduced.
'For placing the Auditor-General on the same status re dismissal as the Judges, and for making him responsible directly to the Volksraad, it being agreed that until such Financial Adviser has laid his budget proposals before the Government, no fresh taxation shall be laid upon the mining industry, nor any other direct taxation.
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