Excerpt from The Budget of the United States Government: For the Fiscal Year Ending June 30, 1965 The Federal budget is a detailed plan for managing the business of Government, but it is more than that: In setting the relationship between Government expenditures and taxation, the budget is also a powerful economic force which can help or hamper our efforts to achieve stable prosperity and steady growth. The expenditure proposals in this budget are ample to satisfy our most pressing needs for governmental services, but the broad economic stimulus needed to carry our economy to new high ground in produc tion, income, and employment will not come principally from Govern ment outlays. I believe - as did President Kennedy - that the pri mary impetus needed to move our economy ahead should come, in present circumstances, from an expansion of the private sector rather than the public sector. Therefore, the earliest possible enactment of the tax reduction bill now before the Congress is an integral and vital part of my budgetary proposals. Our country is currently in its fourth postwar period of economic expansion - a period which started in February 1961, and has now lasted nearly 3 years. Preliminary estimates indicate that the Nation's total output of goods and services4 - our gross national product - rose to $585 billion in calendar year 1963, an increase of over 1962. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.