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Updated: May 13, 2025
It means the expenditure of more than $15 billion this year on nuclear weapons systems alone, a sum which is about equal to the combined defense budgets of our European Allies. But it also means improved air and missile defenses, improved civil defense, a strengthened anti-guerrilla capacity and, of prime importance, more powerful and flexible non-nuclear forces.
Budgets must be tight enough to convince those who set wages and prices that the Federal Government is serious about fighting inflation but not so tight as to choke off all growth. Careful budget policy should be supplemented by other measures designed to reduce inflation at lower cost in lost output and employment.
He managed to have the boy overhear all sorts of manufactured conversations, rode his horses unfairly on the training-course, stuffed him with false reports of the matches for which they were entered, and, in short, gave him such budgets to send home to his master, that the latter grew completely mystified, bet on the losing chances instead of the winning ones, and lost about twenty thousand pounds, which went into the pocket of the intended victim.
Then, again, as to your public business of all sorts, your Financial statements and your Budgets; the Public knows much, truly, about the real doers of all that! Your Nobles and Right Honourables are first-rate men? Yes, and so is a goose a first-rate bird. But I'll tell you this about the goose; you'll find his natural flavour disappointing, without stuffing.
Whatever may be my admiration of this result, when I see the communes of France, with their excellent system of accounts, plunged in the grossest ignorance of their true interests, and abandoned to so incorrigible an apathy that they seem to vegetate rather than to live; when, on the other hand, I observe the activity, the information, and the spirit of enterprise which keeps society in perpetual labor, in those American townships whose budgets are drawn up with small method and with still less uniformity, I am struck by the spectacle; for to my mind the end of a good government is to ensure the welfare of a people, and not to establish order and regularity in the midst of its misery and its distress.
The Budget total for the next fiscal year, the year that ends on June 30, 1947, is estimated at just above 35.8 billion dollars-about a third of the budgets for global war, although nearly four times the prewar budgets. This estimate is based on the assumption that a rapid liquidation of the war program will be associated with rapid reconversion and expansion of peacetime production.
"You know," said he, "that I was always against the alliance with Germany. As I predicted, it has ruined us. We were not big enough to march side by side with such a wealthy and powerful person, and it is in view of a war, always near at hand and inevitable, that we now suffer so cruelly from having to support the budgets of a great nation.
New taxes and duties are being devised everywhere, and the financial oppression of the nations knows no limits. If we glance at the budgets of the states of Europe for the last hundred years, what strikes us most of all is their rapid and continually growing increase. "How can we explain this extraordinary phenomenon which sooner or later threatens us all with inevitable bankruptcy?
Expenditures for our share of the administrative budgets of the United Nations and other permanent international bodies will increase sharply in the fiscal year 1947, yet will remain a small part of our total Budget. The budget for the United Nations has not yet been determined; an estimate for our contribution will be submitted later.
So that it would seem that the budgets, records of the investigator, and statements given by the young women interviewed last June may be reasonably regarded as the most truthful composite photograph obtainable of the trade fortunes of the army of the New York department-store girls to-day. The limitations of such an inquiry are clear.
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