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Independent in Long Beach, California

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This newspaper page contains 2 articles. Subscribers can read the full text of each article.

Newspaper

Independent

Location

Long Beach, California, United States of America

Date

Jul 16, 1970

Page

4

Senate Proposes $10 Billion Armament Cut in Defense Bill

Senate Armed Services Committee chair Sen John Stennis says subcommittee bill seeks austere funding with 5 billion in savings from force reductions to 2.5 million and cuts to MIRV warheads and certain Navy and Air Force purchases. Proxmire pushes for faster action and more defense spending elsewhere. The plan aims to balance national security needs with fiscal restraint for the Nixon era.

Washington Senate Alster Armed Services’ Committee Nixon Dortiamicen Doe Wwistets Proxmire Wisconsin Armed Services Committee John “Stennis D-Miss Proxah

Kennedy warns deficit likely larger than expected

Secretary of the Treasury David Kennedy told Washington reporters the anticipated 1971 deficit may be much larger than the President's small figure due to slower business recovery. He cited weak growth in Southern California and Seattle from defense cuts and warned against rising protectionism threatening trade and the U.S. balance of payments. He said inflationary psychology could delay a new inflation wave.

Washington Secretary of the Treasury David Kennedy Kennedy California Seattle United States U.S

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