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Brookings study links future spending to tax rises
A Brookings Institution study warns that expanding current programs and Nixon proposals would consume all projected federal tax growth over three years, implying new or expanded programs require higher taxes or deficit financing. The budget outlook, led by Charles L. Schultze, projects defense outlays rising to 82 billion in 1974 and 88 billion in 1976, driven by pay raises and a volunteer army.
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Washington
Brookings Institution
Nixon
Charles L. Schultze
Johnson
Vietnam