FISCAL: Midsummer Inventory

The good war news last week insinuated its way even into the drab and cautious mathematics of the Bureau of the Budget. Emerging from his annual midsummer inventory, stocky, able Budget Director Harold Smith announced that at least $3 billion can now be shaved off U.S. war expenditures by the end of the fiscal year, June 1945.

Even so, Budget Director Smith was being professionally pessimistic. The $3 billion drop assumes only that the German war will be over some time between now and next June, and that the Japanese war will still be going on. A quicker finish to...

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