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Newspaper
La Crosse Tribune
Location
La Crosse, Wisconsin, United States of America
Date
Aug 03, 1966
Page
4
Sylvia Porter argues the 1966 fiscal year should have shown a surplus, praising the new economics that favors deficits in slack times to spur growth and hiring, while planning surpluses in upswings to curb inflation. She notes the June 30 deficit was only 2.3 billion and urges recognition of this stance.
In Johannesburg, African leaders dream of a united black army marching against white rule across Rhodesia, Angola, Mozambique, and South Africa. Whites, though outnumbered, are arming heavily as coups ripple Africa, with South Africa’s defense budget topping 1.12 billion since 1961. The white republics bolster borders with Angola, Mozambique and Rhodesia while maintaining a strong 18,000-strong white force in local defense.
Hollywood actor Jack Palance suffered possible rib fractures after a late night collision at an intersection. He was hospitalized at Queen of Angels in good condition. no other injuries were reported. Palance, 46, is known for Great Show on Earth and Shane.
Dull skies and drizzle hampered search for the Darwin missing two days with 31 aboard. Relatives kept vigil at the hotel before the Sunday coastal cruise. Fishermen feared another sea mystery as Atlantic gales threaten to hamper the effort and push the 45 foot cruiser further off course.
The Treasury’s tax take rose from 93 billion in 1965 to 104.6 billion in 1966, driven by boom profits and withholding tax rate increases. Spending surged to 106.9 billion, up 10.4 billion, with military, antipoverty, health, education, space, and housing programs climbing. Deficit around 2 billion despite inflation and a lower GNP share. Viet Nam drives the 1966 spending spike.
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