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ii mere is a aeiicit in hiscal Year 1966, beginning next July 1, the Federal Government of the United States will have operated in the red for 30 of 36 years, and there will have been six consecutive deficits since fiscal year 1960. There is need for fiscal reform in both the Executive and the Legislative Branches. In view of the facts as they exist I have prepared for introduction in the Senate Mon-, day, or shortly thereafter, a resolution to facilitate control over the annual rate of federal expenditures, and to relate expenditures to bfe* authorized to estimate revenue for the year. The resolution would amend Senate and House rules with respect to the appropriation process. A summary follows.
Under present procedures Congress acts on spending authorizations, such as appropriations, but where funds are available for more than one year it does not limit annual expenditures under the authorizations.
Under the resolution, Congress would put an annual expenditure limitation against 'all expenditure authorizations, including current appropriations, unexpended bah ances, back door spending items, etc. Under present procedures Congress acts on appropriations, as such, in a dozen or so appropriation bills which are brought before it at differ ent times over a period of months. Under the resolution all expenditure authorizations, along with expenditure limitations, would be brought together under the cover of one
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