The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1954-01-21
Proposed Budget sIashes National Security Outlaws

Duuget
deficit ST million dollars lower
than be estimated six months ago.
His new fiscal 1854 estimates
showed income about one billion
dollars less than former President
Truman estimated in his budget
message to Congress ; year ago.
Spending was estimated about ~
billions less than Truman forecast,
the new deficit figure was over
81 billions less than Humans,
and the debt predicted for next
June 30 was four billion dollars
under Humans figure.
Eisenhower whacked appropria.
tons requests as well as spending
estimates, and commented that
asking for less authority 10 spend
was The highroad to reduced spend.
ling.
He requested new appropriations
lof 56s4 billion dollars for the new
fiscal year. That was about III
billions less than new money re.
quests IN his revised fiscal 1864
budget, l5Iz billions less than Tru.
man asked for fiscal 1854, u BIZ.
lions less than in fiscal 1853, and
IS billions less than the Korean
War appropriations peak Of 9ih
billion dollars Ia fiscal 1852.
Budget HighIishis
Here are the highlights Of Eisen.
h0wer's budget estimates for fiscal
1855, compared with his new fiscal
1854 estimates and with the totals
for fiscal 1858:
Year ending June 30, 1855
Spending SIS, $40, 600, OOl
revenue 81, 642, 600, OO(
Deficit > o2s 00(l az
Appropriations 81. 2S3. OOO. OOl
Natl. debt 273. 900 900 00l
Cash balance 1850, O0O, OOl
Year ending June 30, 1854 195:
SIC, 902, 900, 900 $73, 9S2, 900 ,0Ol
67,628, 900 900 64,593, OOO, OO(
3,274, 0OO, 900 9,s89, OOO, OOI
6O.7ls, 900, 900 80, 236, OOO, 0Ol
269, 75O. 900, 900 266, OH ,OOO, OOl
4,950. 0OO, 900 1870, OOO, 0Ol
The new budget, Eisenhowel
said, marks the beginning OF /;
movement TO shift to state ant
local governments and to private
enterprise federal activities which
lean be more appropriately ant
more efficiently carried on in tha1
way
Basis OF Budget
He said the budget is based o.
assumptions that business condi
tons in general, personal neon.
and corporation profits would con
tinue Eat substantially the presen
high levels. .
Previous year figures for re
lceipts and expenditures were eaci
about $50 million dollars lower
than figures heretofore used. dut
Ito a bookkeeping change. Receipt.
and expenditures for the railroad
retirement trust were eliminated
from the receipt and expenditure
totals. Since they are trust collec.
Itious and expenditures, Eisenhow,
Ter said, they should be kept apar,
from the governments own income
and spending. This is the practice
with social security money.
Here are the highlights of Eisen.
hower'S tax program:
Tax Plan. Hishlights
/. The big surprise was q pro.
posal to give taxpayers an extra
month to file their returns-up &c
April Is. A Treasury source said
there was no thought Of making
this effective this spring.
2. Present law allows deductions
for medical costs above 5 per CEN
OF income, and up to 81, ESQ for !
single person or 5000 for .
family. Eisenhower proposed t.
lower the point at which deduc.
lions begin to 5 per cent Of income
and double the dollar limits.
3. Present law disqualifies 1
child as a dependent II he earns
more than 5000. Eisenhower pro
posed THAI this limit be abolished
for children up to IS years of age,
or older IL away at school, so Ions
Is the taxpayer stu furnishes
more than half their support.
Working Mothers Benefit
I. Eisenhower proposed that
widows or widowers who wori
away from home be allowed new
80