Economy Act
The Economy Act of 1933, officially titled the Act of March 20, 1933 (ch. 3, Pub.L. 73-2, 48 Stat. 8, enacted March 20, 1933; 38 U.S.C. § 701), is an Act of Congress that cut the salaries of federal workers and reduced benefit payments to veterans, moves intended to reduce the federal deficit in the United States.
The Economy Act of 1933 is different from the Economy Act of 1932. The Economy Act of 1932 was signed in the final days of the Hoover administration in February 1933. This sometimes leads to confusion between the two pieces of legislation. The Hoover-sponsored bill established the purchasing authority of the federal government and remains in force as of 2009.
Read more about Economy Act: Enactment, Provisions and Impact
Famous quotes containing the words economy and/or act:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
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Which at the first are scarce found to distaste,
But with a little act upon the blood
Burn like the mines of sulphur.”
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