BUDGET: Restraint for Now

In the past, Congress has always passed its spending proposals willy-nilly, without bothering to add up the budgetary totals. This year for the first time, Congress is voting on its own budget proposals as a whole, in obedience to the Congressional Budget Act of 1974. Last week, after months of study and debate, the Senate voted a $365 billion ceiling on spending and a $70 billion deficit for fiscal 1976, which begins July 1. The House proposal was only slightly different: $368 billion in spending but also $70 billion in red ink (the House guessed more in revenues than...

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