The nation got a sharp warning. A joint congressional committee of tax experts estimated last week that at the present rate of income and outgo, the U.S. would be in the red another $3 billion by next year. Such big round numbers had lost their ability to shock, the government was already $252 billion in debt. But one fact could be understood. If even in prosperous peacetime a government did not keep out of the red, then it was playing with economic dynamite.
Washington debated: what to do? With almost monolithic stubbornness, Harry Truman still insisted that the thing to...
To continue reading:
or
Log-In
