THE PRESIDENCY: Balanced Thinking

In 32 speeches on his "intake" Western tour, Franklin Roosevelt discovered two subjects that were sure-fire with all audiences. One was Peace. The other was balancing the budget. First thing the President did on his return was to reshape U. S. foreign policy. Last week he turned his attention to the budget.

Basic theory of New Deal economy has been that the Federal Government should spend in lean years, save in fat ones. Last week, while many another U. S. citizen had begun to wonder whether the country was on the verge of a major business slump, the President made...

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