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Ike Budget Deficit Forecast Hinges on Cuts to Be Found
United States budget notes suggest a 390 to 400 billion dollar deficit for fiscal 1955, contingent on nearly 6 billion in spending cuts, chiefly in national security. Officials expect Congress to approve extended high tax rates, with social security contributions shaping cash income. a debt limit rise to 290.8 billion is anticipated, while defense hopes to trim military outlays by up to two billion.
MENTIONED IN THIS ARTICLE
Washington
Congress
Lisenhower
Treasury Department
Secretary of the Treasury
Humphrey
Defense
Wilson