ln 1965 congressional salaries were raised from $22,-500 to $30,000 – and four years ago there was a 41 per cent jump to $42,500. Now a new proposal in process would give congress members and some other officials salary increases reportedly in the neighborhood of $10,000 a year. Obviously rising living costs affect congressmen as well as everyone else. But are such massive salary increases justified?… Continue reading Congressional Pay Raise
Category: National Debt
‘Fed’ Helps Feed lnflation
What really is the basic cause of inflation? Even this far into the frustrating fight against crippling inflation, many Americans – extending to such high places as Congress – continue to ponder the question. And, as Rep. William E. Dannemeyer, R-Calif., noted in a recent house speech, “Until we agree on what that cause is we cannot begin to deal with the solution.” ‘ The Californian… Continue reading ‘Fed’ Helps Feed lnflation
$2.2 trillion debt will bring ‘dry statistics’ painfully home
Some frightening figures on our national debt were revealed in a joinnt report by the Treasury Departmu-nt and the Office of Management and Budget for the fiscal year that ended Sept. 30. The figures, as reported by the press. are not just “dry slatistics.” They affect every American plus children and grandchildren yet unborn. The… Continue reading $2.2 trillion debt will bring ‘dry statistics’ painfully home
Dollar Worth 39.7 Cents
“The Consumer Price Index now stands at 251.9 which means goods and services that cost $100 in 1967 now cost $251.90. Stated another way, the 1967 dollar is now worth 39.7 cents.” That paragraph from a weekend UPI news dis- patch on the government’s latest economic report spotlights sad effects of the inflation which wracks the United States economy.… Continue reading Dollar Worth 39.7 Cents
Let’s Reverse Spending Trend
our per capitagha – th federal debt as .:2 late ne t autumn will ” gnt to bout $4,66. ,5 t was t proj -‘)’5, as ing Pr siden ggyg m art t ‘ Q. $7 .3 ‘ i tin-RIPE 2 fiscal y c. . T e budget indicates a $ .5 billion deficit. he… Continue reading Let’s Reverse Spending Trend
U.S. Rolls Up Record Deficit Of $220.7 Billion This Year
By Tom Raum AP Economics Writer WASHINGTON – The federal government amassed a record $220.7 billion deficit in the fiscal year that ended Sept. 30 despite enactment of major deficit-reduction legislation. the Reagan administration reported Tuesday. The government took in $769.1 billion in receipts and paid out $989.8 billion in expenditures, the Treasury Department and the White… Continue reading U.S. Rolls Up Record Deficit Of $220.7 Billion This Year
Can U.S. Debt Be Bridled?
Third in a Series President Reagan is committed firmly to halting deficit spending and balancing the federal budget, he hopes by 1983.Ironically though, he had to ask Congress to raise the borrowing limit to $985 billion to cover spending commitments by the previous Carter Administration through Sept. 30, the end of fiscal ’81. Most of the 31 debt limit increases of the past two decades had been voted perfunctorily, with… Continue reading Can U.S. Debt Be Bridled?
We Must Attack Budget Problems With Diligence
Last of a Series Two attitudes obviously must change if the United States government is to end deficit spending and control the national debt, now approaching a trillion dollars. First, Congress must reverse excessive-spending notions and recognize that the fount of federal funds has its limitations. And secondly, Americans in general and special interest groups particular must ease their demands on the… Continue reading We Must Attack Budget Problems With Diligence
U.S. ‘Debt’ Payments Nearing $100 Billion
Second of a Series America was 200 years accumulating a national debt of a half-trillion dollars. Now, just six years later, the debt is approaching $1 trillion – albeit today’s inflation devaluated dollars ”aren’t what they used to be.” The colonial government issued $2 million in paper money in 1775, initial step toward financing the… Continue reading U.S. ‘Debt’ Payments Nearing $100 Billion
A surplus so small it’s a deficit
An anticipated small surplus in the fiscal 1981 federal budget appears to have melted to a prospective substantial deficit as the budget saga continues in Washington. This despite a law requiring a balanced budget effective in ’81. Originally, last January, President Carter submitted a proposed $615.8 billion budget with a $5.8 billion deficit. But last… Continue reading A surplus so small it’s a deficit