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Federal Budget, 1963 #219906

CBS Evening News for Monday, Jan 24, 1972
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(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

Cronkite, Walter;
Schorr, Daniel

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