Newspaper Archive of
San Miguel Basin Forum
Nucla , Colorado
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February 2, 1972     San Miguel Basin Forum
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February 2, 1972
 

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O "( olorado taxpayers' share of the cost of the $246.~, bil- lion F'ederal expenditure bud- get for the fiscal year 1973, just submitted bythe Presi- dent, will amountto an esti- mated $2.5 billion," according to the Colorado Public Ex- penditure (~ouncil. The esti- mate is based upon a formula developed by the Tax Foumta- tion, a nationally known, non- profit research organization. "The President's budget projects receipts in the fiscal year which begins next July 1 at $220.8 billion, with a uni- fied budget deficit of $25.5 billion." John Quigley, CPE- C's spokesman, noted that this huge deficit comes on top of a deficit nov,' estimated at $39 billion for the current fis- cal year, and of $23 billion in the fiscal year which ended June 30, 1971. '~'Fhe unified budget results reflects the operations of the soc ial insurance ,and other Federal trust funds," Quigley pointed out. "If those trust funds are eliminated, the sta- tus of Federal finances on what might be referred to as the 'general fund' basis is even more alarming, reaching a deficit of up to $d5 billion for 1 972. "The Federal budgetary out- look, ;as indicated by these totals, carries grave implicu- tions for every t itlzen, as well as for State and local govern- ments," the (7f'E(" spokesman declared. '"l'hese huge eXl~t'l,- ditures must eventually he paid for, one way or another. The inexorable rise in Federal spending poses a certain threat of heavier tax burdens in the future. Proposals to provide fiscal relief for State- Iota I governments thro ugh Fed- eral action may have to be re- examined in the light of the Federal budgetary position." Quiqley warned, '~'l'his, however, may not be the worst of it. ttuge Federal deficits help to generate inflation, Thus, Federal fiscal policy appears to be at cross purpo- ses with the government's wage-price stabilization pro- gram ' ' "It is even more disturbing to contemplate the threat which these huge deficits may pose to tile integrity of our ill- ready beleaguered dollar." lie also noted that the Fed- eral debt, which amounted to $409.5 billion as of June ~0, 1971, is now estimated to rise to $893.2 billion by the end of fiscal year 197~. I I I I Wednesday, February 2, 1972 II vol. 18 no. 31 still only III I IIM | This year when you make out the check to pay your federal income tax, you will be happ] to know thac part of It will go to pay the salary of the foul ball in the de- partment of Inr.ernal Revenue who authorized mailing you your tax forms by first class mztl rather than by third class as in years past. This little oversight will only cost the Am~:rlcan taxpayer an additional TWO and ONE HALF MILLION DOLLARS me, re than it should have. Wlfl he get fired 3vet this? Probably not because anyone who can wasze tax- payers money on such a grand scale is destined to go far in our government. Above: NOT SK] BUMS but members of the Nucla Ski Club pictured relaxing on the deck at Ski Dallas recently. We are grateful to Grace Herndon for the photo which shows left to right seated on the deck Debbte Austin, Leslie Am- ent, Wallace Belden and John deKoevend. 2nd row 1 to r we have Tammy Burnett, Dane Heese, Darren Heese, Edwin Thomson, Dale Williams, Kevtn Reardon and Clifford Hammond. Back row 1 to r : Three Belden Brothers, JerryWtl- llams, Jay Phillips, Ken Belden, Bonnie Andrews, Chuck Binder, Danny Bishop and Mark Ltber.