THE BUDGET: Dollars & Sense

The U.S. Treasury last week announced a historic accomplishment: for the first time in five years, the fourth time in a quarter century, the Federal budget had a surplus when the fiscal year ended on June 30. After income of $67.7 billion and expenditure of $65.9 billion during fiscal 1956, the Eisenhower Administration had paid off $1.6 billion of the national debt, reducing it to $272.7 billion.

...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

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