National Affairs: Budget in the Black

Closing the books on fiscal 1960 this week, U.S. budgetmen reported that the U.S. had snapped back from last year's debt-bloating deficit of $12.4 billion into the black by an estimated $750 million—largely because of the Administration's pressure on all fronts against federal spending. Budget dopesters expect a surplus for fiscal 1961 (beginning July 1) somewhere above $2 billion. Likely final score for the Eisenhower Administration: four surpluses (1956, 1957, 1960, 1961) and four red-ink years (1954, 1955, 1958, 1959). Cumulative total for the eight years: a deficit of some $16 billion.

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