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New War Budget BefCongressToSpeed VictoryWASHINGTON, Jan. 11.— W) —President Roosevelt laid before Congress today a $100,000,000,000 war budget to speed the day of victory, and to help raise this record sum he asked for $16,000,000,000 in additional taxes or compulsory savings.Altogether, Mr. Roosevelt estimated government spending in the fiscal year beginning Juiv 1 at $109,000,000,000, and he said in a message to the lawmakers,“This budget represents the maximum program for waging war,”The new tax program he suggested included a $25,000 limit on the income of anyone after payment of taxes, regardless of the source of his income.The budget, which estimates spending for the 12 months beginning July 1, not only dwarfed anything in the history books, it represents more than the annual money expenditure; of all the other belligerents on both sides of the war, put together.It was nearly three times what Germany is spending, four times Enlgand, and 14 times Japan.In the current fiscal year, America’s war cost was estimated by Mr. Roosevelt at about $77,000,000,000. Add to that another $19,000,000,000 spent between Pearl Harbor and the beginning of the current year, and the American bill between Dec. 7, 1941. and June 30, 1944, will be $198,000,000,000 — just $190,-000,000,000 short of all the money spent by the treasury from the day George Washington was inaugurated in 1789 until the Japs attacked about a year ago.“Some persons may believe that such a program is fantastic,” commented the command-or-in-chief, “If the nation’s manpower and resources are fully harnessed, I am confident that j the objective of this program ! can be reached, but it requires a compile recognition of the necessities of total war by all— management, 1 a b o r, farmers, consumers, and public servants —regardless of party.”He did not translate his financial estimates into planes and tanks and ships — to do so, he said, would merely help the enemy.Emphasizing that his figures meant weapons, not coins, and that the Axis could not be swamped by money, the president cautioned:“Victory cannot be brought with any amount of money, however, large; victory is achieved by the blood of soldiers, the sweat of workers men and women, and the sacrifices of all people.”To farmers he assigned the task of feeding the United Nations, for “food ' is a primary weapon of war,” said ho budgeted $837,00.000 for federal farm aids calculated, among other tiling-, to divert agricultural acres from luxury foods to nutrition essentials.
Newspaper Details
Laredo Times
Laredo, Texas, US
Mon, Jan 11, 1943
Page 3
Full Page
Clipped by
Texas A.
TX, USA 03 May 2023
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