The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1937-04-22
SPENDING MANIA GETS OUT OF
CONTROL

Roosevelt Demands Cut in Federal
Spending" headlined an exchange yester-
day.
Mark this prediction: If the President
is serious and means business and makes
an honest effort to curb and reduce federal
spending, and continues on that course,
history will record that his popularity be-
gan to wane at this time; and it will con-
tinue to shrink and shrivel until it may
totally disappear, depending on the extent
of the effort to bring expenses within
bounds. If the handout system ends with
it will go the Presidents halo, as far as
millions of people are concerned.
Discussing the governments financial
position, Walter Lippman makes reason
able and sensible summary of the situation
Some paragraphs are quoted from The
Charlotte Observer:
"What makes this so serious is not the actual
sum of money involved. The credit of the United
States government is good, and 1T can borrow some
more money if it has to- The situation Is serious
because we are now in period of full recovery,
on the verge of a boom, and an administration
which is unable to balance its budget in good times
is in effect confesSing that it can never balance
the budget If it cannot reduce expenditures when
private business is running close TO capacity, II 1t
cannot levy sufficient taxes when the national IN
come is big then when it hope to balance the
budget?
eve are now in the fourth year since the begin
niny of recovery and if we have TO go on inereas-
ing the national debt instead of paying it off, 1t
will be evident that the administration has lost
political control over appropriations and over
taxes If it has TO continue to. borrow money when
the governments income is greater than 1t was IN
1929 then when is it going to stop borrowing
money?
"For let US recall that when Mr.. Roosevelt de-
nounced Mr.. Hoover for mis- financial recEessness'
Mr. Hoover had a government income of bill
lions and expenditure of billions. Mr.. Roosevelt
has a government income more than twice as large
as Mr. Hoovers. He has recovery instead of deep
depression. Yet. Mr.. Roosevelt's deficit is as big as
Mr.. Hoover's
of with such a large government income and
with business booming, Mr.. Roosevelt cannot stop
borrowing money, then there is only one possible
conclusion. II is that he is so committed to the
mayors and governors and to the various pressure
groups that he must go on pouring out funds, and
that he does not feel able to face the voters with
a tax bill to the costs. .
"Now, of course all the sensible people in the
administration, including Mr.. Roosevelt, know per-
fectly well that this sort of ching cannot go on.
Once the country begins to feel that government
finances are out of control, that the administration
cannot stop spending and does dare to tax, the
situation will become critical. For the credit of a
government is no better than the public thinks 1t
is and the public will not think we'll OF govern
ment which, after specific pledges and highly
favorable economic conditions, is politically incapa
bic Of doing what it knows, and has said. that II
ought to do"
Evidence that the spending mania OF the
administration is out of control, has beer
out of control for long time, and is run
ming away with the country in spite OF the
efforts of a few conservative men connect
ed with the government, and in spite OF
the better judgment of the President, has
accumulated mountain high. The problem
is the largest, most serious and acute, thai
has confronted the administration; and its
portent is AS shocking as its possibilities
are unsettlfng and startling. '- '
If President Roosevelt is the wisest mar
who ever appeared in American public
life, and has surrounded himself with tn
wisest advisers and helpers the country at
fords, these gentlemen should 'have beer
able to forecast the final results of the riot
Gus spending spree to which they commit
ted the administration early in Roosevelt
first term. .@.u
Millions of ordinary citizens, claiming
no extraordinary allotment of human wis