Brass Tacks

January 1941
New Republic;1/20/41, Vol. 104 Issue 3, p70
Focuses on the budget address of the U.S. President and his proposals on defense and internal security. View that an annual expenditure of $17500000000, of which 65 percent is to be for defense, may seem large in comparison even with New Deal budgets of the past; Speculation that the proposed appropriations are adequate to the need as Germany is spending on arms upwards of half of her national income and Great Britain almost as great a proportion; Report that defense will take not more than 14 percent of the total product; Report that President Franklin D. Roosevelt is on firm ground in refusing to cut non-military expenses drastically in order to support the military burden; View that the President's proposal on taxation, borrowing and the national debt is right in principle but lacks specification; Statement that the only real balance sheet of the economic performance in the months ahead lies not in financial accounting but in the goods and services it can turn out, and in what it do with them.


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