Time Clock, Jun. 15, 1953

THE budget deficit for fiscal 1953, ending this month, will be about $7.9 billion, instead of the $5.9 billion estimated by Harry Truman. Chief reason: income from corporate taxes was less than Fair Deal estimates.

INTERIOR Secretary McKay, worried over charges that he opposes the development of natural resources, will soon announce support for two gigantic power and irrigation projects for the West. One is the Frying Pan-Arkansas project to transport water eastward from Frying Pan Creek, a tributary of the Colorado, through a tunnel under the Continental Divide to the Arkansas River, south of Denver. The other is the Upper Colorado...

Want the full story?

Subscribe Now


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!