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Show Page 6 THE UTAH INDEPENDENT July 30, 1971 Ml Ini Continued From Page 1 financial condition than the money going to come from that the Federal Government is supposed to "share' with the clamoring for help. December and no catch-phras- e about full employment can dis- simple-minde- d . ews-Fre- e in the past few years has taken an increasingly large share of the tax dollars available, too often for purposes that are questionable if not outrageous . the believe. n deficit of $11.6 billion in the new budget the true figure? In submitting his budget, Nixon has utilized the unified budget concept which came into vogue in fiscal 1968. Formerly, the administrative budget concept was list'd. This wras based on income outlays of the Federal Government within a given pur-iosc- two-mont- generally indicate stated that the government debt is now up to nearly $388 billion, $20 billion more than it was a year ago, $30 billion more than when Nixon took office, and $58 billion more than five years ago. Summing up the effects of Nixons revenue-sharinprogram, Congressman John G. Schmitz stated: there is no Federal revenue to share. What will be shared under this program is inflation. - seven-tenth- An editorial in the llirmingham (Ala.) Post Herald of January 7, Because of a projected accumulative Federal deficit of approximately $30 hillion for fiscal years 1971 and 1972, it is seen that v ear. The unified budget budget C lumps together all Federal assets including trust funds which s were established for specific such as highways and Social Security . living-co- st hikes later. g The proposal outlined in the President's State of the Union address January 22, would simply add $5 billion for State and local governments on top of all existing expenditures, thereby increasing the Federul deficit, forcing up the debt limit , revenue-sharin- g making inflation worse , and In this regard, Congressman Joe L. Fvins had this to say: Revenue Sharing Would Increase depriving the people Inflation more of their direct control over local governmen t. An AP dispatch of March 5, stated that the Bureau of Labor Statistics had issued a report stating wholesale prices in February 1971 showed the sharpest rise in more than 17 years, largely because of big boosts for farm large trust funds is nothing more than a Including these smokescreen estimates of Federal revenue are as inflated as many economists percent increase. Added to Janus rise, it was the arys h hike in 20 biggest years. The AP dispatch went on to state, Wholesale price hikes to obscure an extremely large deficit position, liy using these trust funds as a means to increase a possible asset position - a fiscal taper tiger , if you will - the budget is reduced loan estimated $1 1.6 billion. llithout the trust funds the deficit emerges as approximately S'J'i. I billion - and that could produce and processed foods. The February' rise of of one percent in the Governments wholesale price index was larger than an earlier s of one estimate of an nine-tent- eight-tenth- hs of that much 4 Revenue Sharing Would Increase Cost Of Local Government When in New Orleans on March 9 to promote revenue sharing, Vice President Spiro T. Agnew claimed that It will mean that State and local governments wont have to continually raise taxes. Sates taxes in some areas have become almost confiscatory. . . Under Nixons revenue-sharinproperty g got a promotion. For The Finest In Pets And Pet Supplies Fish cal -- built-i- if the job saving he's going to buy a Cadillac because he could xiy for it - if lie were working and if he Federal Government is already in worse Dogs-Cats-Birds-Tropi- guise that! But as President Nixons well be a conseriative figure That sounds very good, but there isn't full employment and there isn't desirable business expansion. So that commres with somebody who had just lost his Nixon's Deficit Budget Furthermore, of fact, the unemployment figure rose to 6 in In his 1970 State of the Union tes? address, Nixon ddeclarcd: lie must balance our Federal budget And then publisher Loeb con- so that American families will tinued: have a better chance to balance their family budgets. d A year ago, Nixon was predicIt is incredible how some Slate legislators can ting a Federal budget surplus of be and how some S 1 .3 billion for the fiscal year people can be when they think ending June 30, 1971. That surthe Federal Government is giving plus has now turned into an $18.6 them something. All it is doing is billion deficit. This resulted from returning a portion of the monies a $12 billion upward revision in taken away from the citizens to Federal outlays and a drop of $7.9 billion in estimated receipts. begin with. The drop was caused by inflation Continuing along the same line, and last years business slowdown which was substantially greater Congressman H.R. Cross on Febthan Nixon had expected. ruary 10 declared: In his budget message of JanIf the Federal Government has uary 29, the President called for fiscal any money tit share, it got it from $229.2 billion for the new the citizens of the Slates in the year beginning July 1, 1971. first place. If it is money that proAdmitting that this new budget perly belongs to the Slates, u hy would carry a deficit of $11.6 did the Federal Government take billion, Nixon tried to explain it it in the first instance? The llhite away by saying that his budget House can give an answer to that would be in balance if there were one! full employment and if there were satisfactory buiness expansion. Writing in the rkansas Demo that Commenting on Nixons statecral, Karr Shannon stated most States are in a financ ial bind ment, The Chattanooga because the Federal Co eminent Tress of January 30 slated: simple-minde- As a matter a number of the States who arc Aquarium GRINDS FLOUR MAKES ICE CREAM LIQUIFIES VEGETABLES WITH JUICER Supplies-Complet- e Line Of Pet Supplies WITH PATENTED ?tT COHRA4 131 E. 3rd So., S.L.C. Ph. 364-193- 1 Regardless of The Price . . . " Colonial Has The Finest ,f in Funeral Services! A ve , c- r - r, feem-.- . ft. i i . i, GET MORE BOUNCE TO THE OUNCE. SEE THE BEATRICE CARROUSEL JOGGER VALLEY SELECTED FOODS 3530 South Redwood Road Salt Lake City, Utah 84119 1 Phone: 299-304- 2121 So. Stoto Street - Phene 4S4-S56- 1 K |