Medford mail tribune. (Medford, Or.) 1909-1989, November 29, 1962, Image 5

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Medford mail tribune., November 29, 1962, Image 5

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Newspaper Page TextI MEDFORD MAIL TRIBUNE. MEDFORD. OREGON THURSDAY. NOVEMBER 29. 1962 T . . . . . TA Itowiin an if i NEW ASSIGNMENTS - Budget Director David E. Bell, nsht. hands a copy of the budget to Kermit Gordon in Washington after it was announced that President Ken nedy had selected Bell to be foreign aid chief. Gordon, now a member of the President's Council of Economic Ad visors, will replace Bell as director of the Bureau of the Budget. (UPI) Chicago Said Best Place To Hold 1964 Political Parleys 4 .5 Chicago -il'PIt- Chicago is the traditiunal and inherently full j kind of mystery factor at this best place to hold both the Re-1 of politics, not to mention stage. publican and Democratic 1964 political conventions and it's not too early to start attract ing thejn, a man who has been trying to do just that said today. "We think we can swing both of them," said Harry C. Kipke, former University of Michigan football coach and president of the Chicago Con vention Bureau. "But we" can't be too opti mistic at this point," Kipke added, sounding a little like a coach before a game. Attracting one national po litical convention involves months of negotiations and perhaps more than a little behind-the-scenes maneuvering. To attract two you double the effort. Machinery Intricate , The machinery for getting a convention is intricate and Chicago attracted both con Gerald , ventions in 1952 but only one executive director j each in 1956 and 1960. "We lost the Democrats in 1960 to Los Angeles," Sander son said, "because of the cor rect political climate." Chicago, Sanderson said, has had more political conven tions than all the other cities put together. Citizens here abouts feel they are worth going after, despite the fact that other, non-political con ventions bring in more visi tors. Expenditure Not Estimated "It's a prestige thing," Kip ke said. "Nobody would be able to set a value on the publicity Chicago derives by having news stories go out all over the world under a Chi cago dateline." Neither Kipke nor Sander son estimated how m u c h economics. Kipke's associate, Sanderson, of the convention bureau, ex plained how it works. Both parties, he said, name site committees "and these will be chosen pretty soon." These committees, operating independently, shop around for the best convention city and reach a decision, "which we expect in mid-April." Both committees, Sander son said, use a six-point selec tion chart. The points include hotel space, the meeting site, transportation, press accom modation, financial structure and "correct political cli mate." "This last item might amount to 9B per cent of the reason for selecting a certain city," Sanderson said. "It's a money would be needed to win either or both conven tions. Chicago put out $400. 000 in I960 to get the Repub licans. The money went for such things as decorations, printing and staffing of the convention headquarters. "Chicago will put up what ever is needed," Kipke said, "and we feel sure we can com- , CLEARED OF CHARGE Baker -iUPI- Lovern Elmer I Jackson, 32, former operations pete against any other city." Sanderson thought c'll-! offlccr ol tne v- s- National The convention site could Icago's chief competition would I Bank hcre: has bccP e'eared of be either the International i come from Dallas, Miami! Amphitheatre or McCormick Place, Chicago's new lake front exposition hall. Mc Cormick Place is committed for pails of July and August, 1964. but the Amphitheatre is open throughout the June through - August convention period. i a state charge of embezzle- i ment. Circuit Judge W. F. FREE! S1C0 CHRISTMAS GIFT CERTIFICATE With Purchase of Your New Rambler at LEA MOTORS Fifth and Birllott Phone 772-6185 Beach, Las Vegas, San Fran-! Brownton of La Grande, sit- cisco and Los Angeles "I would be surprised if it went to Philadelphia - either of them," Sanderson said. ting here, ruled that embezzle ment of a national bank by an employee does not violate Oregon law. Photo Christmas Card Supplies Make Your Own Christmas Cards This Year! ENVELOPES . . . PHOTO PAPER . . . FOLDERS GREETING MASKS , . . CHEMICALS HUDSON'S 613 East Main Street ROGUE CAMERA SHOP Phone 773-4288 O o ..... Your Money's Worth By. SYLVIA PORTER Copyright, Hall Syndicate, Inc. DISMAL HISTORY OF DEFICITS AND DEBT The odds that the federal government will end up the current year with a budget deficit of "only" 7.8 billion are minimal. The mid-year budget estimates (synonym, guesses) almost always have been wrong by millions of dollars both on in come and outgo. There is scant basis for believing the Budget Bureau's guess on Nov. 13, 1962, will be the exception and turn out on July 1, 1963, to have been on the nose. Rather, the probabilities are: (1) The budget deficit for this fiscal year 1963 will be - considerably larger than $7.8 billion - even without counting in a multi-billion dollar boost in defense spending already in the works and without considering losses to the Treasury from lax reductions. (2) The budget deficit in this fiscal year and or the next well may be higher than the record peacetime deficit of S12.4 billion chalked up by President Eisenhower in 1959. Without stretching themselves, informed observers can reach a figure of S15 billion or more. (3) The budget is on its way, to an all-time peak for war or peace. So is the national debt. So is interest on the nation al debt. So is the legal ceiling on the national debt. Against this background President Kennedy will have to fight hard to get Congress to approve the lax slashes he and an extraordinary broad cross-section of experts believe are essential if our economy is to swing back into a strong, solid upturn. This he is prepared to do, though, and if he wins and the upturn develops, then and only then will the dismal history of deficits, debts and interest burdens of this entire generation be reversed. In case you've forgotten, here's that record. In millions ' of dollars. Year 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 19K1 1962 1963 1964 Budget deficit or surplus S 737 - 462 - 2.735 - 2,602 - 2,630 - 2,791 - 4.425 - 2,777 - 1,177 - 3,862 - 3,918 - 6,159 -21.490 -57.423 -51,423 - 53.941 20.676 guess) 754 8.419 - 1,811 - 3.122 3.510 - 4,017 - 9,449 3.117 - 4.180 1.626 1.596 - 2.819 - 12.427 1.224 - 3,856 - 6.300 - 7,800 National Debt $ 16,185 16.801 19.487 22,539 27,734 32.824 38,497 41.089 42,018 45,890 48,497 55,332 76.991 140,796 202,626 259,115 269.898 258.376 252,366 252,798 257.377 255,251 259,151 266,123 271,341 274.418 272,825 270,634 276.444 284,917 286,471 288,861 298.211 now) 302,293 ? Interest paid on debt $ 659 612 599 689 757 821 749 866 926 941 1,041 1,111 1.260 1,808 2,609 3,617 4,722 4.958 5,211 5,339 5,750 5,613 5,859 6,504 6.382 6.370 6,787 7,244 7.607 7,593 9,180 8.957 9,140 (est.) 9,700 ? 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