Turn of the Tide?

For U.S. business the big news of the week came at the tail end of the President's budget message (see NATIONAL AFFAIRS) : after sixteen successive years in which Government spending has exceeded intake, fiscal 1947 would see the first reduction in debt. Although Government bookkeeping still shows a deficit of $1.9 billion for the current year, the Government anticipates collecting $2.8 billion more cash from the public than it pays back to the public.


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