THE ADMINISTRATION: Touchdown & Extra Point

Last January President Eisenhower announced that his Administration planned to reduce the deficit for the 1954 fiscal year from the whopping Truman estimate of $9,900,000,000 to $3,274,000,000. Last week the President happily revealed that the deficit had been cut $245,000,000 below his own estimate, to $3,029,000,000.

Since January, the executive branch had spent $3.3 billion less than Congress had appropriated. The biggest savings were in outlays for defense and mutual security. The Defense Department alone reduced military spending by $1.4 billion; mutual-aid spending was down $680 million. All told, to offset tax and revenue cuts and still surpass the President's...

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