Revenue sharing leaves mixed fortunes for states and cities
Commerce Department data show a $12.3 billion aggregate state and local surplus in 1972 amid a looming federal deficit for 1973. Analysts warn that surpluses mask severe local fiscal problems and uneven distributions, with officials noting cities often do not share in the gains.
MENTIONED IN THIS ARTICLE
Thomas J. Arrandale
Congressional
America
Congress
Commerce Department
White House
Commerce
Alan Beales
National League of Cities
Conference of Mayors
Congressional Quarterly
Sylvia Hewett
Council of State Governments
Surpluses Rebound Amid Economic Upswing and Inflation
A national upturn and easing inflation boosted revenues creating state local surpluses chiefly from social insurance funds. Without a $7.5 billion social insurance reserve, the $4.8 billion 1971 surplus would have become a $2.7 billion deficit. Banks warn surpluses may not last beyond a year or two despite options to cut taxes or raise spending.
MENTIONED IN THIS ARTICLE
Commerce Department
Philip Dearborn
Advisory Commission On Intergovernmental Relations
Congressional Quarterly
First National City Bank of New York
Youth Chores Build Work Ethic Says Circulation Manager
A circulation manager urges young people to learn work by doing chores. He argues daily tasks teach responsibility, time management, and teamwork, preparing youth for future jobs and steady employment.
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G.E
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Federal
Pushmatic
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Jm Beay
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Clermont - Beam
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Owl
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Clermont
Jimbe
Nes Ny
BEARS
NS Sai
Ressiergecce cc
Ese SE
Dames & Beam Distilling CO
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Bob
Zeke) Davidson
IMSL
Bal
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