THE BUDGET: Deficit Out of Control

"I was amused when you said I was in charge of the federal budget. I don't know anybody who's in charge of the federal budget."

—Budget Director Caspar

Weinberger, in a recent interview

NEITHER, as he has discovered to his chagrin, does Richard Nixon.

Though he campaigned in 1968 as an advocate of responsible budgets, Nixon will face the electorate this year as the author of three sets of federal books positively dripping with red ink—about $80 billion worth, or more than during any other Administration since World War II. Angered and embarrassed by such large deficits, Nixon has decided to take the...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!