THE BUDGET: The Rains Came

A federal red-ink splash "of the order of $10 billion." said President Eisenhower at his press conference last week, lies ahead in the newborn fiscal year of 1959. It was a rueful admission for a President who had pledged himself to balanced budgets as an essential goal, and who half a year ago submitted an optimistic 1959 budget showing a $500 million surplus.

One big reason for the dizzying switch from surplus to massive deficit had nothing to do with either cold war or recession ; it was the further bloating of already swollen farm programs. As of January,...

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