One reason that the outcry for tax cuts and massive antirecession Government spending programs died away so suddenly was that both responsible Republicans and Democrats suddenly became aware of a big new fact of economic-political life: without any more help at all, the U.S. already is heading for a massive budget deficit in fiscal 1959 (starting July 1).
Only five months ago President Eisenhower sent the 1959 budget to Congress, and it showed a slender surplus of $500 million. Last week Budget Director Maurice H. Stans guardedly forecast a 1959 deficit "in...
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