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E X E C U T IV E

O F F IC E

OF

THE

P R E S ID E N T

C O U N C IL O F E C O N O M IC A D V IS E R S
W A S H I N G T O N 25, D. C.
E D W IN G. N O U R S E , CHAIRMAN
LE O N H. K E Y S E R L IN G , VICE CHAIRMAN
J O H N D. C L A R K

D e c a s ife s r 1 3 ,

w m m M m m to n
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m

lf£ 6

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Budget • f t t l s e t e o f eafpendltorfta

tf# a re i w s w tfeat w itk ia tb s aexfc few day* you h sy * t o mk»
d e e ia ig b s v h ie h w i l l d e t& r s ia * tha s i s * o f yo u r fe a sfrt T N o a M K i i*
t i o a fo r th# a * * i f i s c a l y e a r .
As t h i s bo^gpt t o t a l w i l l bu m &
w r y im portant imm&t on the sscomossy a s a w hola, w» c o n s ilo r 1 1
sp p ro p ri'ste fo r us to e x p re ss our iri$ws to y o u .
V© bells,'v© th a t th e eooao&i* o u tlo o k f o r tH* n e x t f i s c a l j a a r
i s ; uch thfet » budget » u rp l*»
u rga tstly a t H a d f o r .
I f tfee
Qomwamnt f a i l s to plan f o r a bodget su r p lu s under prorperoue
e o u d itio u s i t s a y f a i l t o commad sut*§>ex*t fo r a v is # p o lic y o f
d t f i e l U w l i T » ! w m bunio^cs c o n d itio n s .
Eoeaoaiic $ o n a id *r *tio x i 9
lo a d m to ib© co n clu sio n t h a t i t vould b^iatest d e ftir s b la to their
a bud. g o t su rp lu s o f i t l e a * t $3 to $5 b i l l i o n fo r t&« a#jst f t s e a l
year.
T h is r l a v w i l l fee tj^ r a a s e d a l M i s th * d r a f t a r t e r i a l v# are
p rep a rin g fo r your Keonoaic P a p o rt, but w thought t h a t you m ight
v la ti t o h s f t our r l a w on t h i s le tu e aaea b efo re we mstmtt the
a a t e r i a l t o yo u .




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