The Waterbury Democrat., 1945-01-09

ioSn if full employment Is to be provided by private enterprise "
 To that end he proposed post var overhaul of the wartime tax structure to stimulate consumers demand and promote business in- Vestment.
 Spending. revenue and deficit estimates were all down in this hudRet compared with those for the current fiscal year which will end i. on .yune 90. The l0a6 fiscal year, budgeted today, will run from July l, loaS, to June 90. i946.
 Public Debt Upped
 The public debt is going up to an estimated t252, 900 900 900 on June 90 and to $292 900 900 900 on June 90, l045. Mir. Roosevelt VII ask Congress to raise the statutory debt limit, now S26O 000, 900 OOO.
 He estimated interest on the uuhlic debt alone would cost %,- loo 900 900 in the fiscal year lN6. EEls calculation of war expenditures for the fiscal year ranged from less than e6O. 900 900. 900 to more than eaO ,OOO, OOO. GOO Depending on when or whether Germany is licked m hhe period covered. He arbitrarily proposed S70 GOO 100000 as tenta- live estimate of war spending. or this amount, $30 900 0000 900 would be spent by the Army. $22'OOO OOO,- l. poo by the Navy, and the rest by other government agencies.
 This budget would reduce overall i046 expenditures by about $l7,S02,- 900 900 from the $iOl ,562 900 900 be- ing speHt in the current fiscal year. These figures include outlays by gov ernment corporations as well aS the treasury. The l946 net deficit would be down approximately $l2,OO0 OOO,- 900 from this years expected $53- lB2 100000.
 MT. Roosevelt estimated net treas lry revenue in the l946 fiscal year at 04i, ,254 100000 compared with the i945 estimate Of $45, ,729 900, ,00O But he reported that We will be able in the next fiscal year to pay al- most exactly half of All government and war costs from current income "a goal long sought. It will be nee essary to borrow only about $35,- 600 900 900 in public war loans. Fed eral trust funds will Invest an addi- tional &5,O0O. .OO0,0O in government securities, bringing loan proceeds approximately level with tax rev. enue.
 The estimates will bc materially changed if GermanY should collapse within the next l2 months, distinct possibility although the budget mes - sage avoids any predictions Budge. Director Harold D. Smith told ques- tioners that German collapse as late as the middle of the next fiscal year approximately one year from this date might bring war eX- penditures down below $60 GOO 000,- OOO
 In any event. revision of war spending as proposed in this budget would be down rather than up, hc believes. But if the war with Ger mary does continue through June 30 l946. the aggregate of war spend ing in the l046 fiscal year will be more than $8O.000. .000 900, rather than the t70.000 100000 now pro posed. The step-up in expenditure caused by the German breakthrough in Belgium will be reflected in spending during the next six months. which are covered by the current l945 fiscal year budget.
 War cost estimates cover continu- ing lend-lease Mir Roosevelt es- timated that about one-sixth of our current war outlayS are for lend lease, relief and rehabilitation. Lend-lease will be liquidatcd with the end of the war, he continued, but he warned of heavy postwar re- lief burdens ln the liberated areas"
 He said $l .350 900 ,000 already had been appropriated for the United Nations relief and rehabilitation administration And, he added II the sum proves inadequate we must take additional measures. in cooperation with the other United Nations. tO make sure that the peO- DleS of the liberated countries have essential relief from the devastation of war"
 Aftermath Of War Charges
 MT. Roosevelt said expenditure for war veterans, interest on the public debt and tax refunds were increasing from $l 600, ,000, GOO in 1889 to $7 200. 900 GOO in the current fiscal year and probably would az gregate $9.8O0 900 coo in inc l9iG fiscal year sum hc noted. larger than the whole federal budget Tn I93O. These are fixed, unacceptable charges for the most part although the Sl 900. GOO 900 carmarked aa con sisting of Tcpayments to wage and aalary earners of withhOldlng6 in excess ol actual tax liabilities is n large and surprising Instance of niscalculation. War veterans will cost an estimated $2.623 600 GOO ip the next fiscal year. The s4,50O. GOO 900 interest charge for the pub lie debt represents an increase oi 976O. 600 GOO over the current fiscal year.
 Agriculture
 Mr. Roosevelt recommended np' DrOpriAtlon Of t5l2.O0O.O00 tO assure continued high agricultural produc ton
 
 He proposed that the borrowing authority of the farm security ad Ininistration be increased iron Sg7 O0O,OOQ to sl25. GOO 900 for rura rehabilitation ard from sl5,OOO GOO tO 1000, 600 for q tcnant-pur' chase program This recommends ton was in anticipation 0f needs o returning war veterans
 MT. Roosevelt asked Congress u increase the borrowing authority Q tine rural clectrlileati0n admlnlslra ton from s25.O0O.00O to sl50.OOO GOO to permit extension Of electri city to Rt least part of the 5000, 900 rural families now without aucl service He said he shortly woillt recommend appropriations for program of crop insurance,