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Updated: October 16, 2025
The fiscal 1969 budget has expenditures of approximately $186 billion, with total estimated revenues, including the tax bill, of about $178 billion. If the Congress enacts the tax increase, we will reduce the budget deficit by some $12 billion.
Well, I am glad to report to you tonight that the fiscal year ending June 30, 1969, this June, we are going to have not a deficit, but we are going to have a $2.4 billion surplus. You will receive the budget tomorrow. The budget for the next fiscal year, that begins July 1 which you will want to examine very carefully in the days ahead will provide a $3.4 billion surplus.
So this, my friends, is the State of our Union: seeking, building, tested many times in this past year and always equal to the test. Thank you and good night. State of the Union Address Lyndon B. Johnson January 14, 1969 Mr. Speaker, Mr. President, Members of the Congress and my fellow Americans: For the sixth and the last time, I present to the Congress my assessment of the State of the Union.
The war in Vietnam is costing us about $25 billion and we are asking for about $12 billion in taxes and if we get that $12 billion tax bill we will reduce the deficit from about $20 billion in 1968 to about $8 billion in 1969. Now, this is a tight budget.
The fiscal 1969 budget has expenditures of approximately $186 billion, with total estimated revenues, including the tax bill, of about $178 billion. If the Congress enacts the tax increase, we will reduce the budget deficit by some $12 billion.
We must balance our Federal budget so that American families will have a better chance to balance their family budgets. Only with the cooperation of the Congress can we meet this highest priority objective of responsible government. We are on the right track. We had a balanced budget in 1969.
In the course of a series of political, economic and cultural revolutions like those which played so fateful a part in China between 1899 and 1969, an entire generation is born, grows up and, in larger part, retires from active life or dies off. Long continued cultural changes play a part in local history. They have an equally important role in the lives of neighboring nations and peoples.
They are so critically needed that I have doubled my request under this act to $100 million in fiscal 1969. And I urge the Congress to stop the trade in mail-order murder, to stop it this year by adopting a proper gun control law. This year, I will propose a Drug Control Act to provide stricter penalties for those who traffic in LSD and other dangerous drugs with our people.
But you must look within your own hearts to the old promises and to the old dream. They will lead you best of all. For myself, I ask only, in the words of an ancient leader: "Give me now wisdom and knowledge, that I may go out and come in before this people: for who can judge this thy people, that is so great?" Richard Milhous Nixon First Inaugural Address Monday, January 20, 1969
We must balance our Federal budget so that American families will have a better chance to balance their family budgets. Only with the cooperation of the Congress can we meet this highest priority objective of responsible government. We are on the right track. We had a balanced budget in 1969.
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