$495 Billion Debt Limit, Hearing Before the ..., 93-2, June 12, 1974

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Page 16 - Treasury Atomic Energy Commission Environmental Protection Agency General Services Administration National Aeronautics and Space Administration Veterans...
Page 3 - That, during the period beginning on the date of the enactment of this Act and ending on June 30, 1965, the public debt limit...
Page 7 - This is the first time you have been before this committee, and unless it is too lengthy, it might be well for you to present it. Mr. SIMPSON. Thank you very much, Mr. Chairman. Mr. Chairman, it is a pleasure for me to appear before this committee today to discuss the proposed budget for the Consumer Product Safety Commission. In many ways, I feel like the little boy who is about to ask for his first allowance and doens't particularly want to go into great detail about how he intends to spend it....
Page 16 - In his housing policy recommendations of May 10, the President announced a 4-point plan to make additional mortgage money available to assist the housing market. If interest rates remain high, mortgage commitments under this plan could cause outlays in 1975 to be about $3,000,000,000 higher.
Page 34 - While outlays in such areas as education have gone down in real terms, direct federal aid to individuals — cash payments under programs like Social Security, other noncash forms of assistance such as food stamps — have gone up dramatically. At the same time, the authors note, "the defense budget seems poised for a turnaround from a steady declining share of the budget to substantial real increases for 1975 and the future.
Page 9 - Our study had revealed that this is so, and we are now in the process of deciding how the value can best be recouped, bearing in mind that it must be done without upsetting the money market or delaying tax collections. It is possible that we will need to propose that we be given a limited authority to invest...
Page 12 - Committee for a phaseout of the percentage oil depletion allowance combined with a windfall profits tax. The substitution of these measures for the Administration's original windfall profits tax proposal reduces estimated corporation income tax receipts by $1.7 billion in 1975.
Page 9 - We felt obligated to operate with an unduly low cash balance in the first part of April...

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