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1 The Federal Budget for the Fiscal Year 1967: A Summary and Analysis 1 (1966)

handle is hein.tera/feeefyea0001 and id is 1 raw text is: 1966 - 1 THE FEDERAL BUDGET FCR THE FISCAL YEAR 1967 A Summary and Analysis PRINCIPAL BUDGET TOTALS The budget document submitted to the Congress this week (1) revises the esti- mates of Federal receipts and expenditures for the current 1966 fiscal year, projecting substantial increases in both revenues and spending over the orig- inal estimates of a year ago, and (2) sets forth estimates of Federal reve- nues and spending for fiscal 1967, beginning July 1, which reflect signifi- cant additional increases. For the current fiscal year administrative budget receipts are now projected at $100.0 billion, $5.6 billion higher than originally estimated. Adminis- trative budget expenditures are expected to be $6.7 billion higher than originally estimated, at $106.4 billion. For fiscal 1967 administrative budget receipts are estimated to increase by $11.0 billion over 1966 (and by $17.9 billion over actual receipts in 1965) to a total of $111.0 billion. Federal spending is estimated to total $112,6 billion, a rise of $6.4 billion over 1966 (and $16,3 billion above the ac- tual expenditures for fiscal 1965). The administrative budget deficit for fiscal 1967 is thus projected at '1.8 billion, as compared with an estimated $6.4 billion in the current fiscal year. The public debt is expected to increase to $321,7 billion by the end of fis- cal 1967 -- $1.7 billion higher than the projected 1966 total, and $3.8 bil- lion above the actual debt at the close of fiscal 1965. On a cash budget basis, including the transactions of the social security, highway, and other trust fund programs, revenues are expected to increase $17.3 billion in fiscal 1967 to a total of $145.5 billion. Cash budget expenditures in fiscal 1967 are projected at $145.0 billion, an increase of $10.0 billion; thus a cash budget surplus of $.5 billion is estimated. Totals indicating the trend of Federal finances, with comparisons of actual amounts for fiscal years 1960 and 1965 and estimates for fiscal 1966 and 1967, are set forth in Table 1 on the following page. TA FONION Inc . 172 K St. N Wsintn D . 00

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