FISCAL: Worrying Through

There will be no increase in taxes if the next Congress imposes no increases upon the budget or other expenditure proposals which the administration will present. But for Congress to do this, the people must cooperate to effectively discourage and postpone consideration of the demands of sectional and group interests.

Such (with the customary split infinitive) was President Hoover's answer last week to the 47th deficit in U. S. fiscal history, estimated at $800,000,000 by June 30.* His statement was designed to reassure Business & Industry and to ease the prospective popular...

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