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The first decision that we made was to reduce Federal Government
to
spending as quickly as possible.
ARCHIVES 3.
.
SERVICE*
The extent of retrenchments by the Government is shown by the 6
record.
one
written
In the fiscal year 1945 the Federal Government spent 100,000,000,000.
In 1946 we cut expenditures to $64,000,000,000. In 1947 we have further
reduced expenditures to an estimated figure of $42,000,000,000. The
budget for the next fiscal year, which I have sent to the Congress,
totals $37,500,000,000. + charty seven and a half belhan
Not only have we greatly reduced expenditures, but we have made
tremendous progress toward the elimination of deficits.
In the fiscal year 1945, the Federal Government had a deficit of
over $53,000,000,000.
In the fiscal year 1946 it was in the red by about
$21,000,000,000. But now we have worked our way into the black, and I an
happy to be able to say tonight that for the present fiscal year 1947 we
shall balance the budget and we shall have a surplus.
I an determined that stringent economy shall govern all peace time
operations of the Government,
When the several departments and agencies were called upon, a few
months ago, to submit their requests for funds for the coming fiscal year,
they were told of my determiniation.
They responded by eliminating many of their former activities. This
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"ocrText": "-7- -\nThe first decision that we made was to reduce Federal Government\nto\nspending as quickly as possible.\nARCHIVES 3.\n.\nSERVICE*\nThe extent of retrenchments by the Government is shown by the 6\nrecord.\none\nwritten\nIn the fiscal year 1945 the Federal Government spent 100,000,000,000.\nIn 1946 we cut expenditures to $64,000,000,000. In 1947 we have further\nreduced expenditures to an estimated figure of $42,000,000,000. The\nbudget for the next fiscal year, which I have sent to the Congress,\ntotals $37,500,000,000. + charty seven and a half belhan\nNot only have we greatly reduced expenditures, but we have made\ntremendous progress toward the elimination of deficits.\nIn the fiscal year 1945, the Federal Government had a deficit of\nover $53,000,000,000.\nIn the fiscal year 1946 it was in the red by about\n$21,000,000,000. But now we have worked our way into the black, and I an\nhappy to be able to say tonight that for the present fiscal year 1947 we\nshall balance the budget and we shall have a surplus.\nI an determined that stringent economy shall govern all peace time\noperations of the Government,\nWhen the several departments and agencies were called upon, a few\nmonths ago, to submit their requests for funds for the coming fiscal year,\nthey were told of my determiniation.\nThey responded by eliminating many of their former activities. This"
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