CBS Evening News for Monday, Jan 24, 1972
View other clips in this broadcast →
Material supplied by VTNA may be used for educational analysis or research only. Any editing, reproduction, publication, rebroadcast, public showing or public display may be prohibited by copyright laws.
(Studio) President Nixon sends Congress 1973 fiscal year budget of $246.3 billion. National debt now greater than ever: $25.5 billion.
REPORTER: Walter Cronkite
(DC) [Treasury Secretary, John CONNALLY - says national deficit will reduce unemployment without more inflation.] President Nixon asks Congress to impose rigid ceiling on spending so as not to put economy even deeper in debt. [Budget Director, George SCHULTZ - says ceiling would stop raids on treasury, which would trigger more inflation.] Budget planners predict balanced budget if unemployment relieved (fewer welfare benefits, more taxes). Nixon asks for record high defense budget, though proportionately less than for HEW. Senate Appropriations Chairperson Allen Ellender rejects spending ceiling. [House Chairperson, George MAHON - criticizes deficit.]
REPORTER: Daniel Schorr
Note to sponsor members: The Vanderbilt Television News Archive video player requires a modern operating system and browser to work properly. If you are experiencing playback problems, check the minimum requirements and adjust your setup accordingly. After adjustments, if you continue to experience problems, please contact us.
Welcome! Above is the abstract of the item that you're interested in viewing from the Vanderbilt Television News Archive's collection. You have three options if you'd like to view this item:
If you believe that you are associated with a sponsoring college or university and have received this message in error, please let us know.