Dollars & Sense

The U.S. Treasury last week announced a historic accomplishment: for the first time in five years, the fourth time in a quarter century, the Federal budget had a surplus when the fiscal year ended on June 30. After income of $67.7 billion and expenditure of $65.9 billion during fiscal 1956, the Eisenhower Administration had paid off $1.6 billion of the national debt, reducing it to $272.7 billion.

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