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![handle is hein.tera/wingtore0004 and id is 1 raw text is: 920 Washington Building
16 Washington 5, D. C. January 1 3.
1952 EXPEMDITUR.!S OF '71.6 BILLIO__%N, EVW
TTXES OF ( CtI' LLI7ON i SKED BY P.RESIDENT
A Federal budget for fiscal 1:62, calling for total expendi-
tures of $71.6 billion and tax increases of at least .16.5 bil-
lion, was submitted to Congress this week by the i'resident. Tax
receipts under existing legislation are estimated at 55.1 billion
for the fiscal year, and the budget message recommends new tax
laws to erase the resulting . ]16.5 billion deficit.
The greatest increase over recent years is found in the bud-
get expenditures proposed for the military services. Military
expenditures are estimated at $Vhl.h billion for fiscal 1972, an
increase of .20.4 billion over the current year. In addition,
expenditures listed under International security and foreign re-
lations are estimated at ',!7.5 billion, an increase of $2.7 bil-
lion over the current year. However, the budget message empha-
sizes that expenditures for these two programs may be subject to
substantial adjustment in the future. Actual expenditures in the
final analysis, the President declared, will depend on how rapid-
ly we are able to produce military items for which funds are made
available-If The detailed breakdown of these two major items is
not included in the budget and will probably not be available
until April 1.
The President's message also stresses the need for balancing
the budget. Later, the President will send to Congress his recom-
mendations for new tax legislation to raise sufficient revenue to
bring the budget into balance. His message states: High taxes
are indispensable to our successful mobilization. They are re-
quired to preserve confidence in the integrity of the Government's
finances, to distribute the heavy financial costs of defense
fairly among all the people, to reduce excessive demand for raw
materials and industrial products required for national defense,
and to choke off inflationary pressures.
With respect to nonessential
DEFINITION OF ' DEFENSE spenrling, the President agreed that
MAY CAUSE M1AJOR FIGHT strict economy in nondefense spend-
ing is required, and his bud-et
message claims that such a policy is incorporated in this budget.
Congressional reactions to this aspect of the budget ranged from
Senate Majority Leader McFarland's statement that a substantial
effort had been made in the budget to trim nonessentials, to
NOTE: The contents of this report are not for publication or reproduction.](ViewImageLocal?handle=hein.tera/wingtore0004&div=1&collection=&method=preview&ext=.png&size=3)