National Affairs: How to Save Money

Looking around wildly for some way to save money with a minimum of local political pain, the House Appropriations Committee last week seized on a favorite target: foreign aid. Last week it whacked the European recovery appropriation down $629 million to $4.6 billion, and sliced $150 million out of the $1 billion appropriation for U.S.-occupied areas. Promptly, the alarms sounded.

Up to Capitol Hill scurried ECAdministrator Paul Hoffman, who had spent anxious months justifying the appropriations. To Republican Leader Joseph Martin and Republican Tightwad John Taber, Salesman Hoffman made an urgent, timely appeal....

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!