Red Menace

Red Menace For the first time in three years the U.S. Treasury had to get out the red ink. It was a lusty $1,811,440,047.68 in the hole for fiscal 1949. The Government had spent $40,057,107,857.79--a peacetime record--while taking in only $38,245,667,810.11. The deficit was more than three times as much as Harry Truman forecast in his January budget message.

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