Record Budget Deficit in 1976 Largest in U.S. history
The federal budget deficit for fiscal 1976 totaled 65.6 billion dollars, below early estimates but still the largest in U.S. history. Expenditures reached 365.6 billion with receipts at 300 billion. Deficit adjusted by lower defense and debt interest payments, while 1977 outlook sits at 47.5 billion. A transition period may allow 20 billion carryover spend.
MENTIONED IN THIS ARTICLE
Washinuinss
Office of Management and Budget
Billlion
Houston Seizure Tops 14-Year Narcotics Bust
Police say federal, county, and local officers seized 12 pounds of heroin in southeast Houston raids the largest in 14 years and arrested 10 people who will face federal drug violations.
MENTIONED IN THIS ARTICLE
Houston
B.G. Bond
Bond
Gas price cap tripled by FPC sparks consumer concern
The Federal Power Commission raised the interstate natural gas ceiling to 1.42 per thousand cubic feet for gas produced after 1974 with 1-cent quarterly increases, and set 1.01 for 1973–74 production. Analysts warn of up to 1.5 billion in higher bills. legal challenges expected from consumer groups.
MENTIONED IN THIS ARTICLE
Washington
Federal Power Commission
Commission
Citizens
Energy Action
Louisiana Ordered to Remove 100+ Mentally Retarded Children
U S District Court Judge Alvin B Rubin ordered Louisiana to stop sending more than 100 mentally retarded children to two Texas institutions and to remove them as soon as possible. He cited excessive drug use at the Dyer Vacation Training Center in Leona and inadequate care at the Gertrude Thomas Home in Houston. He described the Houston home as providing only basic physical care with hazardous conditions.
MENTIONED IN THIS ARTICLE
New Orleans
Louisiana
Texas
U.S. District Court
Alvin B. Rubin
Rubin
Dyer Vacation Training Center
Leona
Tex
Gertrude Thomas
Houston
Dyer Center
Thomas
Reagan pick of Schweiker diverts Ford supporters
Opinions split over Ronald Reagan choosing Sen. Richard Schweiker as running mate with Ford backers calling it a desperate delegate grab. The move shifts some Pennsylvania delegates and unsettles Northeast voters as the GOP nears the convention and the fall race against Carter.
MENTIONED IN THIS ARTICLE
Sacramento
Calif
Ronald Reagan
Richard S. Schweiker
Reagan
Ford
Pennsylvania
Senate
Associated Press
Schweiker
Northeast
Pennsyvania
Howard H. Baker Jr
Tennessee
James A. Stein
Thomas J. Twine Sr
David Christopher
Union State Bank Directors Buy Stock in Carrizo Springs
SAN ANTONIO AP Directors of Union State Bank of Carrizo Springs purchased controlling stock after an auction by First National Bank of San Antonio. Seven directors acquired 24 002 shares totaling 63 percent ownership of the bank, stabilizing local, oil and agricultural community banking.
MENTIONED IN THIS ARTICLE
SAN Antonio
Union State Bank of
First National
Eagle Pass
Enrique Salinas
Salinas
Citizens State Bank of
Carrizo Springs
Boycotts and Bribes Tighten Tax Bill Provisions
Senate approves antiboycott and antibribe measures added to a multibillion dollar tax bill. The package, approved 86 to 1, would strip tax benefits for firms that boycott Israel or pay bribes to foreign officials. Expect penalties including up to a year in jail for executives who fail to report such income.
MENTIONED IN THIS ARTICLE
Washington
Israel
Senate
Ford Administration
U.S
Finance Committee
George Street
Gibson
Holladay Construction Co
Lolita
Juanita Street
County Judge Post Given to Gus Mutscher
Gus Mutscher Jr. was released from probation 30 years early and appointed Washington County judge in Brenham Texas. He accepted the oath before about 50 people as former House speaker linked to the Sharpstown stock scandal begins a new chapter in local public life. County officials noted the appointment is temporary until November general election.
MENTIONED IN THIS ARTICLE
Houston
Howard Hughes
Texas
John Hill
Pat Gregory
Annette Gano Lummis
William Lummis
Gregory
Hill
Lummis
Hughes
Mexico
Methodist Hospital
Methodist
Joseph Jachimczyk
Harris County
Brenham
Tex
Gus Mutscher Jr
Sharpstown
Washington
Mutscher
Johnie Schulte
Daniel
Odis Tomachefsky
Gus
John Sommer
Sommer
Robert Smith
Travis County
Austin
Bill McCay
Maloney
Ex Premier Tanaka Arrested In Japan
Former Japanese prime minister Kakuei Tanaka and secretary Toshio Enomoto were arrested in Tokyo on foreign exchange violations tied to a $1.7 million payoff from Marubeni, Lockheed’s agent. Tanaka resigned from the Liberal Democratic Party hours later as the yen and stock markets fell.
MENTIONED IN THIS ARTICLE
Tokyo
Kakuei Tanaka
Lockheed
Tanaka
Toshio Enomoto
Marubeni Trading Company
Japan
Etsusaburo Shiina
Takeo Fukuda
Masayoshi Ohira
Miki
Enomoto
Liberal-Democratic Party
Diet
U.S. Senate
Aircraft Corporation
Liberal-Democrats
Yoshio Kodama
Marubeni
All Nippon Airways
Morning Markets: Dow Dips as Fed Signals Tightening
New York stocks slip on hints of tighter Fed policy led by a 3.98 drop in the noon Dow to 987.53. The NYSE saw more losers than gainers, with Chrysler among the most active decliners after a mixed earnings report. The Big Board and AMEX indices eased while volume remained light in early trading.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
Arthur Burns
House Banking Committee
Fed
Chrysler
Big
American Stock Exchange
NYSE
Also Mentioned on This Page
Carter
Ray Hutchison
Union State Bank
Fluitt
Wallace W. Martin
T. A. Reynolds III
Robert C. Evans Jr
Herbert C. Petry Jr
J. A. Taylor
Charles W. Wilson
Foss, Cates & Hudson
Insurance & Bonds
North Virginia
Port Lavaca
Blasingim
Bargain Center
Bonorden
Wick Perth
Bow, Wash
Cheyenne
Wyo
Congressional
Gus Mutscher
J. Neil Daniel
Abilene
Frank Maloney
Washington County
Council
Rush McGinty
Tommy Shannon
Fort Worth
Frank Sharp
Sharp
Sharpstown State Bank
Preston Smith
Ben Barnes
Texas Insurance
John Osorio
Sharp’s
National Banker's Life Insurance Co
Alcoa
At&t
Ad Rich Wits
Beth Stl
A Borden
Brit Pet
Cat Trac
Coca Cola
duPont
A Eastman
el Paso NG
Fairchild Cam
Elec
Gen Foods
Gen Tire
Goodrich
E Great Abp
Gulf Oil
Gif St Ut
Hart Hk
Hous LP
Int Paper
Man
John Joh
Litton
Marathon
Mobil Oil
Monsanto
Penn Cent Lia
Eo Penney
Va Phili Pet
RCA
Courier
Ford Dealers
Terry Bunch Motors
West Main Port
Lavaca
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