Nixon aides flag July wholesale price jump on food
At the Western White House George P. Shultz announced a July rise of five tenths of 1 percent in the Wholesale Price Index led by food. The increase sharpens the year’s inflation outlook as White House aides discuss a 1972 budget near 210 to 220 billion dollars amid deficits and spending projections.
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White House
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George P. Shultz
Office of Management and Budget
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Shultz
Mahon Deems Unified Budget Deficit Figure Misleading
House Appropriations Chair George Mahon said the Nixon administrations unified budget claim of a 2.9 billion deficit is misleading. He cited a near 11 billion shortfall under the old accounting and warned the public misrepresentation obscures true spending and revenue sources. He noted Congress spent 5.6 billion less than requested while the administration overspent by about 12.2 billion.
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George Mahon
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Congress
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House Appropriations ‘Committee
House OKs 1.6 Billion Housing Bill Amid Veto Fears
The House sent to the Senate by voice vote a 1.6 billion dollar appropriation bill funding HUD and many independent agencies for the new fiscal year starting July 1. A conference return to cut the measure failed 227 to 156, with supporters citing needed programs and critics warning of deficits and election-year spending.
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House
Senate
Mahon
Congress
Scott
Washington
Senate House
Department of Housing and Urban Development
Hugh Scott
Congréss
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