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New Budget #238862

CBS Evening News for Monday, Feb 03, 1975
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(Studio) President sends new budget to Congress; deficit to be byword for this budget. Unemployment, inflation and gross national product figures look no better than budget.
REPORTER: Walter Cronkite

(White House) [PRES. - says despite huge deficit, new budget is a start in right direction.] Breakdown of tax revenues given. Breakdown given of how each tax dollar spent. Spending for research and development in energy examined; in 1976, $1.66 billion expected to be spent. Spending for hwy. construction and mass transit to rise also; figures given. Unemployment benefits for `75 to double over `74 and to triple in new `76 budget.
REPORTER: George Herman

(Studio) Congress reaction to budget follows.
REPORTER: Walter Cronkite

(Capitol Hill) Senators Jacob Javits, William Proxmire, Hubert Humphrey, Morris Udall all react negatively to new budget. [Senator Russell LONG - hopes country has learned something from years when Herbert Hoover tried to balance budget.] [Representative George MAHON - doubts Americans, Congress, or administration have determination or restraint to make reductions proposed by President] [Senator Henry BELLMON - thinks this worst news since President Johnson's gun and butter budget.] [Representative Al ULLMAN - predicts additional deficit.]
REPORTER: Roger Mudd

Cronkite, Walter;
Herman, George;
Mudd, Roger

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