THE PRESIDENCY: Budget-Beginning

Elections must be over before any dependable forecast of the next Roosevelt Budget is available, but last week—with Congress' return ten weeks off—the President began budget making. Since the next deficit looms at least $4,000,000,000 (his second largest), his first conferences with Secretary of the Treasury Morgenthau, Assistant Secretary John Hanes, Budget Director Bell could hardly have been gay.

Other events soon indicated the trend of Franklin Roosevelt's budget ideas. WPA was served notice that it must make $764,000,000 remaining from its 1938 appropriation last until next March as Congress stipulated....

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