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Updated: June 2, 2025
France, on the contrary, persuaded that peace would not be disturbed, took no thought of the morrow. Yet her budgetary estimates showed an ugly deficit. This gap, however, would have been filled up in the ordinary course of things by a big loan which was about to be floated.
The bigger and more complex the Federal Program, the more necessary it is for the Chief Executive to submit a single budget for action by the Congress. At the same time, it is clear that the budgetary program and the general program of the Government are actually inseparable.
It is not worth while to go into the budgetary details of this particular matrimonial venture. Other story-tellers have done that with painful literalness, and nothing is drearier than the dead accounts of the butcher and baker, necessary as they are.
In certain appropriations, such as those for long-cycle procurement, considerable carry-over of unliquidated obligations into future years is to be expected and is necessary. However, substantial further rescissions can and should be made when the war liquidation program tapers off and budgetary requirements for national defense are clarified.
Greater revenues and the reduced Federal spending required by Congress last year have changed the budgetary picture dramatically since last January when we made our estimates. At that time, you will remember that we estimated we would have a deficit of $8 billion.
Greater revenues and the reduced Federal spending required by Congress last year have changed the budgetary picture dramatically since last January when we made our estimates. At that time, you will remember that we estimated we would have a deficit of $8 billion.
Because an understanding of the truth about America is one of our most powerful forces, I am recommending a substantial increase in budgetary support of the United States Information Agency.
The immediate changes needed in agricultural programs are largely budgetary and administrative in nature. New policies and new programs must await the completion of the far-reaching studies which have already been launched. The determination of labor policy must be governed not by the vagaries of political expediency but by the firmest principles and convictions.
We shall continue on a sensible course of fiscal and budgetary policy that we believe will keep our economy growing without new inflationary spirals; that will finance responsibly the needs of our men in Vietnam and the progress of our people at home; that will support a significant improvement in our export surplus, and will press forward toward easier credit and toward lower interest rates.
This budget is adequate to the current needs of the government. It recognizes that a Federal budget should be a stabilizing factor in the economy. Its tax and expenditure programs will foster individual initiative and economic growth. Pending the transmittal of my Budget Message, I shall mention here only a few points about our budgetary situation.
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