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Long Beach Press Telegram in Long Beach, California

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Newspaper

Long Beach Press Telegram

Location

Long Beach, California, United States of America

Date

Jul 07, 1954

Page

7

Deficit Seen Lower Than the Estimate

Government spending cuts last year suggest fiscal 1954 may end with a deficit smaller than the 3.273 billion forecast. Preliminary Treasury figures through June 30 show withdrawals at 71.933 billion and net deposits at 71.731 billion, indicating a rough deficit of 152 million with potential additions from unexpended trust funds and final accounting. The public debt rose to 270.8 billion, up 5.3 billion amid the 12 month period.

Washington UPI Eisenhower Treasury Hisenhower

CC Supports Pay-as-Go Old Age Aid

The U S chamber of Commerce backs universal social security with pay as you go operations. In a Senate Finance Committee testimony A D Marshall urged broader coverage beyond the House bill to include eight million currently ineligible. The measure would add nearly 10 million more people, raise benefits, and widen the tax base. The chamber calls for full employment coverage and a pay as you go system while preserving a 19 billion dollar trust fund.

Washington U.S. Chamber of Commerce Senate Finance Committee Chamber A. D. Marshall Senate Marshall Eisenhower

Also Mentioned on This Page

Uma Sumac U. S New York United States Europe Linda Darnell Allen Dowling Ussal Pathe SEARS Axminster WoolCerp Harmony Long Beach
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