THE BUDGET: Deficits Ahead

The Eisenhower Administration pointed with pride to its original 1958 budget as the third black-ink budget in a row. Then came the Russian Sputniks, signaling the dawn of the space age and stepped-up defense spending. And then came the full force of the recession.

Last week Treasury Secretary Robert B. Anderson told of the red-ink results—which spelled out in big figures why the Administration has resisted a deficit-increasing tax cut. Instead of a $1.8 billion surplus for fiscal 1958, ending June 30, the Federal Government will run up a deficit of more than $3 billion as it is. Total...

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