Splash Of Red Ink Is Second Biggest
The federal government closed another fiscal year on Friday posting the second largest red ink deficit in history.
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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Jul 01, 1967
Page
9
The federal government closed another fiscal year on Friday posting the second largest red ink deficit in history.
The article notes the nation’s peacetime deficit widening and forecasts further increases in the coming fiscal year. Budget gaps persist even if Congress increases taxes to fund the Vietnam War and curb inflation.
President Johnson signed legislation increasing the permanent debt limit from 285 billion to 358 billion with a 365 billion temporary cap for fiscal 1969 starting soon. The move, amid rising deficits driven by Vietnam costs, includes automatic annual increments and a broadened count of government loan interests in the debt.
Houston a UPI report says the Texas Water Pollution Control Board approved a mandatory plan to implement and enforce water quality standards by a midnight federal deadline. The plan creates regional offices and stations to monitor pollution with penalties from 50 to 1000 dollars daily.
Dr. Hector Garcia of Corpus Christi told a GI Forum of Texas convention in San Antonio that the state legislature is generally anti Mexican and that education of Mexican-Americans is a national disgrace. He cited voter registration hurdles as more anti Mexican than anti Negro and urged abolition of the Texas Rangers as obsolete.
London considering cancellation of further aid to Iraq Sudan and Syria after they broke diplomatic relations with Britain following the six day Middle East war. Arthur Bottomley, minister of overseas development, informed the House of Commons.
An Associated Press report from Florence recalls the Arno flood of November last year that swamped the city and damaged priceless artworks. Monks at Santa Croce faced rising yellow waters as the river surged, yet work began to protect the basilica and its treasures.
Kaoru Ikeya, 23, a piano factory finisher in Hamamatsu Japan, is famed for discovering four comets including the Ikeya Seki. He began astronomy in school and built telescopes from magnifying glasses. His night searches yielded rapid comet sightings, earning global attention for his skyward feats.
Crews cleared wreckage and replaced tracks south of Corsicana after a truck train collision killed Homer Scott, 48, of Richland. Eighteen freight cars derailed, four diesel units left the tracks, and about 200 feet of track was torn up. The loss estimate was not set, but a patrolman suggested it could exceed two million dollars. Train crewmen were uninjured.
English clock makers plan to import more parts as demand grows in London. The move signals a broader push to source components from abroad to support increased production and preserve traditional craftsmanship.
The Methodist Church plans an ambitious adult education push with a two year curriculum titled Foundation Series in Christian Faith. It uses paperback books and teaching aids like filmstrips and role play scripts to relate beliefs to everyday life and action. Also notes Vatican changes to Mass and Episcopal clerical trends.
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