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Budget #225467

CBS Evening News for Monday, Jan 29, 1973
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(Studio) Nixon sends Congress $269 billion budget. Deficit totals almost $130 billion.
REPORTER: Walter Cronkite

(DC) Nixon eliminating such things as hospital construction, student loans, mental health programs, housing, emergency employment and urban development. Nixon eliminating OEO, Office Emergency Preparedness, Office Science and Technology and Office of Consumer Affairs. Virginia Knauer of Consumer Affairs will stay as President adviser. Funds for farm aid and pollution sharply reduced. 47% budget goes to human resources, 30% goes to defense, 10% goes to physical resources. 42% tax dollar comes from income taxes, 29% from Social Security taxes and similar contributions. Defense spending is up due to wage and price increases. In Nixon years, deficit totals $84 billion.
REPORTER: George Herman

(Studio) Nixon building laser bomb. Cost is $34 million. Senate Majority Leader Mike Mansfield says Congress and White House have differences over budget priorities. House Speaker Carl Albert says Nixon tearing down humanitarian programs started under FDR and continued under Democrats
REPORTER: Walter Cronkite

Cronkite, Walter;
Herman, George

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