THE BUDGET: Precarious Balance

The most precarious balancing act since the original Great Wallendas retired from the high wire—President Eisenhower’s 1960 budget—is still gamely keeping its balance. Budget Director Maurice H. Stans reported last week. Said normally solemn Accountant Stans, fighting hard to smother a grin: during the half-year since the President presented his budget to Congress, the economy’s energetic climb has added $1.9 billion to the Administration’s income estimate for fiscal 1960 (ending next June). But over the same span, the outgo estimate has also crept upward by $1.9 billion, reaching $78.9 billion. Biggest reason for the outgo increase: rising interest rates, upping the cost of carrying the national debt for the fiscal year from $8 billion to $9 billion. Net result of the higher income and outgo estimates: the budget still shows the skimpy surplus, about $100 million, that the President predicted back in January.