Blueprint for Balance

Like any citizen who is spending more than he makes, the U.S. Government is doing a poor job of running its fiscal affairs. How can it do better?

To find out, a bipartisan Senate-House subcommittee, headed by Illinois' Democrat Paul H. Douglas (TIME, Jan. 16), put this question to almost 500 U.S. economists, bankers and federal officials. Last week, in a clear, plain-speaking 50-page report that was notable for its lack of political partisanship, the subcommittee laid out a blueprint to put the U.S. fiscal house in order.

Its most important conclusion was that in prosperous times like the present the federal...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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