The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1950-01-12
Truman Budget
Carries Out His
Fair Deal Program
BY NATHAN ROBERTSON
For Labor Press Association


omy bloc in Congress by SUBMIT
ing another unbalanced budget for
the fiscal year beginning in July in
order to carry out his Fair Deal
program for m aking America
stronger.
Like the budget presented day
earlier by the Committee for Econ
omic Development, composed Of
businessmen, the President pro-
poses to balance the budget by fu-
ture revenues from growing
economy rather than from short
range economies that would make
the country weaker.
The Presidents budget would
result in deficit next year of $5.1
billion, but the chief executive said
it was directed at achieving
budgetary balance in the. only way
in which it can be achieved-by
measures which support rather
than impair the continued growth
of our country"
Pointing out that II per cent of
the proposed expenditures were to
pay for past wars and achieve
world peace, the President said only
20 per cent, or S12.5 billion, were
devoted to the domestic program
aimed at healthy and growing
economy" He said he was concern
ed, not that this was "too much,
but that it might be "too little" for
the purpose of Stimulating the re-
alization of our country's great
potential development"
For the first time, the budget
this year noted how large a per-
centage of the proposed expendi-
lures was devoted to building up
the assets of the country and would
be repaid to the government either
directly or indirectly in the future.
A special tabulation showed that
total of $12.4 billion out of the
total budget of $424 billions would
be spent for loans, construction, or
other developmental purposes.
Of this, $8.7 billion would be de-
voted to building up federal assets,
including military. The President
noted that, of this $8.7 billion,
about $5.6 billion would represent
the acquisition of assets which are
recoverable or will give continuing
returns in future years, and which
in normal business accounting
would not usually be considered as
current expense" This part of the
budget, which might be considered
an Investment, was higher than the
estimated deficit.
The President said that about $4
billion of this investment would be
repaid to the government through
repayment of loans, the sale of
commodities, or the sale of power
from dam projects. Much of the
rest of this investment budget
would go for such developmental
purposes as State and local con-
struction of hospitals and schools,
research, education and health.
Overall, the Presidents budget
estimates receipts during the next
fiscal year at $37, 100000 and
expenditures at $42,439 coo, ,000.
This spending total is almost 81
billion less than this years, repre-
senting chiefly cuts in foreign pro-
grams, and veterans costs.
The Presidents message includ-
ed a strong plea for strengthening
and expanding social security pro-
grams, including national health
insurance. He asked for broader
legislation on old age insurance
than that now pending in Con-
gress, pointing to the increasing
burden of public assistance for
those not now covered. Bigger APP
preparations for housing, health
and education, also were asked.
Here are some of the major new
programs for which the President
included funds in his budget:
Expansion of public as
sistance programs .$200,C00,0OO
Expansion of vocation
al rehabilitation 49,. 100000
Aid to medical educa-
ton .....-..,....,...,......,,... 3O,CCO,CCOI
Increased Public health
facilities .................... 4,5OO,OOOI
II a h services for
children ...................... 25,COO,COOI
Coop housing for mid
dIe-income families 50,000,CC0I
Increased maternal and
child welfare grants 100000 |
Federal aid to educa-
ton ....,.....,.....,.....,~,. 290,0C0,OC0
Other education aids,
including h o ar
~ships .......................... 30,CO0,0C0
st. Lawrence Seaway 100000
Expanded unemploy-
ment insurance ..... 12,4O0,C00 +
Industrial safety pro-
gram .,.......,.,....,...,... 6,COO,OCO
Unemployment insur- I
ance for c d era
workers ...................... 1s,4C0,OOO
UE WINS SMALL PLANT
Latrobe, Pa. (LPA)-Workers at
tbh StupakOf Ceramic MFG. Co.