Systematic Debt Reduction: Hearing Before the Committee on Finance, United States Senate, Eighty-fifth Congress, First Session, on S. 1738, a Bill to Provide for Systematic Reduction of the Public Debt. June 11, 1957U.S. Government Printing Office, 1957 - 68 pages Considers a program to reduce the national debt by lowering the public debt ceiling each fiscal year. |
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$75 billion amount equal Amount required annual appropriations become effective borrow CHAIRMAN Congress COOLIDGE debt ceiling Debt Reduction Act debt retirement decrease in tax dollar EDWARD STREETER effective July Effective on July ending on June estimated executive branch expend Federal debt Federal Government fiscal year ending fiscal years 1958 income increase inflation interest rates Internal Revenue Code Jefferson Coolidge June 11 June 30 legislation LEVERETT SALTONSTALL Liberty Bond Act loss of revenue ment national debt paragraph percent President problem proposal public debt limit Public Debt Reduction receipts reduce the debt reduce the public required for reduction revenue law revenue resulting Saltonstall bill SAVAGE savers Second Liberty Bond Secretary section 21 Senator ANDERSON Senator BENNETT Senator CARLSON Senator Flanders Senator FREAR Senator JENNER Senator MARTIN Senator SALTONSTALL sinking fund statement surplus suspension Tax Foundation tax or duty tax rates tax reduction unexpended balances United States Senate
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Page 55 - Combined Statement of Receipts, Expenditures, and Balances of the United States Government.
Page 3 - ... 6421 (relating to gasoline used for certain nonhighway purposes or by local transit systems...
Page 5 - Reduction in basis of stock and indebtedness for shareholder's portion of corporation net operating loss — (1) Reduction in basis of stock. The basis of a shareholder's stock in an electing small business corporation shall be reduced (but not below zero) by an amount equal to the amount of...
Page 7 - Section 201 of the Budget and Accounting Act, 1921 (31 USC 11), is amended by striking out "on or before June 1, of each year, beginning with 1972" and inserting in lieu thereof "on or before July 15 of each year".
Page 5 - June 30, 1965, the public debt limit set forth in the first sentence of section 21 of the Second Liberty Bond Act, as amended (31 USC 757b), shall be temporarily increased to $324,000,000,000.
Page 13 - Any method of procedure, therefore, by which a public servant can veil the true meaning of his acts, or which allows the government to enter upon any great enterprise without bringing the fact fairly to the knowledge of the public, must work against the realization of the constitutional idea.
Page 7 - There are hereby authorized to be appropriated for the fiscal year ending June 30, 1959, and for each fiscal year thereafter, such sums as may be necessary for the cost of administering the provisions of this Act, including the administrative expenses of State commissions.
Page 7 - ... (17) information on estimates of appropriations for the fiscal year following the fiscal year for which the budget is submitted for grants, contracts, and other payments under each program for which there is an authorization of appropriations for that following fiscal year when the appropriations are authorized to be included in an appropriation law for the fiscal year before the fiscal year in which the appropriation is to...
Page 41 - CHAIRMAN. I would like to make a statement for the record as to the trial of the single bill for that 1 year only.
Page 13 - ... government to enter upon any great enterprise without bringing the fact fairly to the knowledge of the public, must work against the realization of the constitutional idea. This is exactly the state of affairs introduced by a free use of public credit. Under ordinary circumstances, popular attention can not be drawn to public acts, except they touch the pocket of the voters through an increase...