FISCAL: Alltime Peak

The rate of U.S. war spending has reached top speed at top altitude, although the totals may and probably will go higher, off toward infinity.

This was implicit in the President's semiannual revision of the budget last week. Mr. Roosevelt's findings on the U.S. fiscal health:

> The "fantastic" expenditure of $97 billion for war in the 1943-44 fiscal year still stands. The Army budget is to be revised downward by $6 billion; the Navy pro gram revised upward by $4 billion. The remaining $2 billion will be absorbed by merchant shipping and other war goods.

> Since July 1940, Congress has appropriated...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!