The Budget: On to $100 Billion

Last week President John Kennedy prepared to submit to Congress a record budget of more than $92 billion for fiscal 1963—and vowed that it would be in balance. But many economists and Congressmen had deep doubts. There have been only six budget surpluses since F.D.R.'s first inaugural—and 24 deficit years. The budget for fiscal 1962, an Eisenhower-Kennedy hybrid, so far shows a deficit of $6.9 billion. In "balancing" the first pure-Kennedy budget, the Administration counts heavily on a higher tax take from rising corporate and personal income, and on congressional approval...