The Budget: Neither Extravagant Nor Miserly

THE BUDGET

It would be well-nigh impossible, complained President Johnson during his long sessions with Budget Director Kermit Gordon at the LBJ Ranch, to squeeze Government spending next year to less than $100 billion. There was no magic in the arbitrary $100 billion figure. Having mentioned it, however, Johnson was able to display a flourish of frugality when he sent Congress a budget this week calling for $99.7 billion.

That was still a record high. But, wrote the President, "the budget provides reasonably for our needs. It is not extravagant. Neither is it...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!