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President Kennedy Presents Balanced Budget to Congress

Jan. 18, 1962 - President Kennedy presented his first complete budget to Congress today. It was balanced, as he had pledged, and it provided for further enlargement of the New Frontier. He estimated that for the fiscal year 1963, which begins next July 1, the Government’ books would show these totals:

Spending — $92,537,000,000.

Revenues — $93,000,000,000.

The spending would be the highest of any peacetime year and the revenues the highest ever. “In my judgment,” the President said, “this budget meets our national needs within a responsible fiscal framework.” The President’s military appropriations request for the fiscal year 1963 totaled $51,640,000,000, including $1,500,000,000 for direct military aid abroad.

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