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Updated: July 17, 2025
Many of these programs are just beginning to exert their main stimulating effect upon the economy generally and upon specific communities and industries throughout the country. The past year 1954 was one of the most prosperous years in our history. Business activity now surges with new strength. Production is rising. Employment is high.
The forecast presented by the outgoing administration with the fiscal year 1954 budget indicates that before the end of the fiscal year and at the peak of demand for payments during the year the total Government debt may approach and even exceed that limit. Unless budgeted deficits are checked, the momentum of past programs will force an increase of the statutory debt limit.
And if there is a single nation on this earth that desires less than this for its own people, then let its voice be heard. We have also made it clear from Hanoi to New York that there are no arbitrary limits to our search for peace. We stand by the Geneva Agreements of 1954 and 1962.
The Guardian does not wish to make any hard and fast rules on any of these matters. I will write you again in response to the other questions when the Guardian has given his advice.... 23 July 1954 Dear Bahá’í Friends: Will you please refer to your letter of June 9th and my acknowledgment of June 28th, in which you raise certain questions.
This record includes our inherited burden of indebtedness and obligations and deficits. The current year's budget, as you know, carries a 5.9 billion dollar deficit; and the budget, which was presented to you before this administration took office, indicates a budgetary deficit of 9.9 billion for the fiscal year ending June 30, 1954. The national debt is now more than 265 billion dollars.
This program will meet the most pressing obligations of the Federal Government into the 1958 fiscal year for planning and building public housing. By that time the private building industry, aided by the Housing Act of 1954, will have had the opportunity to assume its full role in providing adequate housing for our low income families. The health of our people is one of our most precious assets.
Many of them would definitely be classed as good, but the best was a report from a photo reconnaissance B-29 crew that encountered a UFO almost over Dayton. About 11:00A.M. on May 24, 1954, an RB-29 equipped with some new aerial cameras took off from Wright Field, one of the two airfields that make up Wright-Patterson AFB, and headed toward the Air Force's photographic test range in Indiana.
In 1953 and 1954 the Chinese Communists took an active part in the war in Indochina against Viet-Nam. In the fall of 1954 they attacked Quemoy and Matsu, the same two islands they are attacking now. They broke off that attack when, in January 1955, the Congress and I agreed that we should firmly support Free China.
From February 1953 through November 1954, the rate of increase of government-held surpluses has been reduced by our moving into use more than 2.3 billion dollars' worth of government-owned farm commodities; this amount is equal to more than seven percent of a year's production of all our farms and ranches. Domestic consumption remains high, and farm exports will be higher than last year.
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