The Budget: Well, It's Not as Bad as They Said They Expected

After the Weather Bureau predicts a seven-day heat wave, a revised forecast that the torrid spell will last only six days seems good news of a sort. In that not-as-bad-as-we-expected sense, President Kennedy had some good budget news to announce last week. Only "a few hours ago," he told reporters at his press conference, the Treasury sent him word that the budget deficit for fiscal 1963 (which ended June 30) was only $6.2 billion. That is another hefty deficit to run up in peacetime, but, as Kennedy pointed out with pride, it was $2.6 billion less than the $8.8...

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