Achievement Os U. S. Budget
Surplus Needs Public Support
**'• -i «
• ' r) The mammoth publication!
known as the Budget of the:
States Government, |
■Which the President presents!
"annually to Congress right as-j
ter it reconvenes, is in many j
_ respects a public challenge as]
, well as a financial pprojection
of national needs and recoin-]
mendations in dollar terms. ,
«. Actually, every Presidential
.. budget message is basically an!
-advance blueprint, and subject]
to spending drives and pressures ]
. as well as to the fulfillment of (
s economic predictions for the pe-j
. riod ahead. Thus the extent j
that the objectives are achieved,,
and particularly where a pro-|
jieted surplus is involved, de
sponds upon the support of thei
How Figures Have Grown
The figures themselves have;
: reached enormous proportions.!
1 This year's recommendations for
the fiscal year beginning next!
July 1 call for 579.8 billions of
> budget expenditures, fourth
highest on record. Revenues of
SB4 billions are anticipated, far
more than has ever been col
lected in any fiscal year in the!
;past. The predicted budget sur-l
plus of $4.2 billions has been;
exceeded only once before, and
holds the prospect of another
welcome break in the “red ink’’j
records of the past generation.
But there is much more to the
budge than the overpowering:
size of the dollar fieures them-'
selves, or to the widely-known j
sections such as national de-;
sense. space exploration, foreign j
affairs, etc. This year's 952-1
j page volume contains a multi-]
- iude of proposals and programs, i
j ranging all the way from ex
panding our educational facili
ties ..I the local and college lev-i
(Is down to adding three shore!
areas to the nation's public]
recreational resources, Manyi
bear only a minor price tag, but:
the dollar and cents figures bear]
no iclation to their longer-range]
importance to the people and!
to the nation. |
An insight into the lesser
known side of the budget and
' into some of the philosophy
! which goes into shaping it is
’ provided by a new group of i
, publications prepared by the
| U. S. Bureau of the Budget and
i known simply as Fact Sheets.
1 This is their second year of
publication, and they discuss trr i
' specifies and backgrounds of all;
, legislative proposals the Presi- j
; dent is making and of major j
controversial issues. The fact
1 sheets are not widely distri-,
bused, but are available on re-!
Influence on Economy
These publications help to |
crystallize the enormous influ
ence of the budget on the econ- j
; omy, not only for the year fori
which the budget is prepared'
but far into the future as well. I
Nowhere is this more clear than |
, in the matter of halting inf la- i
! -m and stabilizing the value of i
tlia dollar, today’s major ec-o-i
|w gal \
Mffi «| . • 1
I fitt-VER |
j g$ ;
I I Bp?.
REPOSE— Striking a contem- |
plative pose, Mrs. Vijaya Lak- j
shmi Pandit, younger sister of
India's President Jawaharlal
Nehru, rests after arrival in
Copenhagen. Mrs. Pandit, a
career diplomat, is in Denmark
as guest of the Liberal party
and the Danish-India Society.
nomic problem. It is here that
the budget message and the sup
' porting fact sheets have taken
' a particularly decisive stand, in
the proposed surplus, debt re
duction. removal of the interest
Iceii.ng on long-term Government
i bonds, and other legislative rec
ommendations. And it is here
! that the support of the public
will be needed if the objective
lof sustainable growth without
i inflation is to be realized.
; While the budget calls for
more spending in certain areas,
j tre fact sheets emphasize the"
possibility of economies and sig-l
nificant savings in a number ofl
The Budget Bureau’s fact
| sheets emphasibe the inflation- j
j ary influence of the 42-year-old
: interest rale ceiling of 4G perj
| vent on U. S. securities matur-,
] ing after five years, which has]
i been forcing the Treasury to re
j finance maturing debt exclusive
ly in shorter term securities.
Under current and recent con
ditions, interest rates on short
term securities are now higher!
j than on long-term Government
bonds, it was pointed out. thus
helping to boost the budget. In
terest on the public debt is
placed at $9.6 billions in the
i 1961 budget, 12 cents of every
dollar of proposed expenditure
i and second only to national se
jcurity in cost to the public
i Another economy proposal is
■ the recommendation to revise
| the farm price support program.
Significant savings in 1962 and
j later years are anticipated by
the Budget Bureau if the pro
posals are enacted. The cost of
| price support and other faren
' aid programs has ranged as high
jas $6 1 2 billions in the 1959 sis
! cal year, more than double the
figure as recently as 1954. and
| is estimated at $5.6 billions for
i the 1961 fiscal year.
THE CHOWAN HERALD. EDENTON, NORTH CAROLINA. THURSDAY. MARCH IT. 19M.
I LB. RAPP A ROC OI^CUT
' SLUED-SMOKED Elt.
%4BBBBBff I Bacon
Frostv Morn Tideland u - s - CHOICE swift premium or armour star swifts
rouri Western— Heavy Steer nADT
_ T-BONE - ROUND SIRLOIN rt JKIS.
STEAKS ChOpS 3St
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fresh - medium Si A T .|T> fT> 11
ir £* Breaded 3pkgs. [RIB lb.
Shnmpsfiyc ShrimDS S j 00 i mu 25= Steaks ! 79c
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Oranges 37c June p eas FLOUR "*■ f C|
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Yellow Squash 29c 4 4j‘ “ r OY‘— SET
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Michigan Yellow 3-Lb. Bag - MAINE - FLAT no. 303 white house ¥IV|CTANT _
ONIONS 14c Sardujes ™
can Vc 4 49 c 00c JkbC
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Prga Raisins vespek-ntt can7c ;
offq ri 25c a 24 c g='iiiir ~
5 A 16-OZ. Ya. Brand No. 2 . Hunt's Heavy Syrup Sliced |
j Bar-Choc or Cocoa nut I
IMißWi'iwI 00 - NUTS c *^ Y r R
WITH IKM L REGULAR 38c VALUE W MARKET M
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