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Domestic News
June 9, 1962
The Detroit Tribune
Detroit, Wayne County, Michigan
What is this article about?
Sen. Harry F. Byrd reported that federal government spending commitments approximate one and a quarter trillion dollars, warning the figure is low as it omits uncalculable future billions.
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"U.S. SADDLED WITH LOAD OF 1/4 TRILLIONS"
Washington, May 30—Federal paternalism has resulted in government spending commitments which approximate one and a quarter trillion dollars, Sen. Harry F. Byrd [D., Va.], chairman of the Senate finance committee, reported today.
A trillion is a thousand billion dollars—an amount so overwhelming that the human mind balks at its comprehension. Byrd used the figure deliberately for its staggering effect in the first of a series of reports to the nation on the financial condition of the government.
Moreover, he warned, the figure was low. It represents
(Continued Next Column Top)
July 1. Until billions for future years, clear and unavoidable, were omitted simply because they could not be calculated.
Washington, May 30—Federal paternalism has resulted in government spending commitments which approximate one and a quarter trillion dollars, Sen. Harry F. Byrd [D., Va.], chairman of the Senate finance committee, reported today.
A trillion is a thousand billion dollars—an amount so overwhelming that the human mind balks at its comprehension. Byrd used the figure deliberately for its staggering effect in the first of a series of reports to the nation on the financial condition of the government.
Moreover, he warned, the figure was low. It represents
(Continued Next Column Top)
July 1. Until billions for future years, clear and unavoidable, were omitted simply because they could not be calculated.
What sub-type of article is it?
Politics
Economic
What keywords are associated?
Government Spending
Trillion Dollars
Harry Byrd
Federal Paternalism
Senate Finance Committee
What entities or persons were involved?
Sen. Harry F. Byrd [D., Va.]
Where did it happen?
Washington
Domestic News Details
Primary Location
Washington
Event Date
May 30
Key Persons
Sen. Harry F. Byrd [D., Va.]
Outcome
figure represents low estimate, omitting uncalculable future billions
Event Details
Federal paternalism has resulted in government spending commitments approximating one and a quarter trillion dollars, as reported by Sen. Harry F. Byrd, chairman of the Senate finance committee, in the first of a series of reports on the government's financial condition.