FISCAL: Downs & Ups

Into the Press last week President Roosevelt dumped a basketful of figures in the form of an off-schedule revision of the Federal budget for fiscal 1937 (June 30, 1936-June 30, 1937). Republicans and Democrats promptly began tossing billions at each other's heads in a fierce dispute over the figures' answer to a prime question of the Presidential campaign: Is the New Deal planning to spend as freely in the future as it has in the past?

Income. The Supreme Court, by invalidating AAA processing taxes, and Congress, by voting the Bonus, severely dented President...

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