Show Dr Dilworth Walker Valker U. U of U. U Professor Talks on We Ve arc getting a great deal for our money by expecting ting the th feder feder- federal 9 al 11 government to do more and f more for us in many cases much more than we ve would if we spent the money ourselves To furnish these extra services the govern govern- government governS S 1 ment either must have ha more money monc I S f or go into debt If the country goes farther and farther into debt V II indefinitely nde h the the only result result can pe be bethe the inevitable me inflation with its terrible effects These are arc the views Dr Dilworth C 0 Walker Valker well t known economist and professor at atthe the University of Utah revealed in a speech to a summer session e audience This socialization of our spend spend- spending spending ing ng docs does not mean getting less for our money mone but rather getting less lessof lessof S of the money we earn The gov- gov gOt t takes ten out of every er e 4 S. S hundred dollars we earn and says I 5 Now If you youcan can spend the rest the thet t C. C university man told his audience S We Ve get more for our money in inmost S most cases public roads for in- in stance With road building being beingS S transferred from individuals towns and counties to states and the fed fed- federal federal eral cral government we get ten miles of good road for what used we to pay I a for one mile Nevertheless increased govern govern- governmental governmental mental operations cost money The federal government is just like a aS S family if it hasn't enough money moneyS 1 S to io pay for all it buys it must f 5 5 either cither charge it or borrow money i which practice has raised the na na- national na- na national ional debt to over O thirty seven I f billion dollars Because of improved ed business conditions in the last four years governmental income of the fiscal year ar just ended is almost double the income of the fiscal year of 1933 But the additional expense of more departments and bureaus doubled appropriations for nation nation- national I. I al at defense greater payments to vet veterans vetS S erans crans more interest on the nation nation- national w al il debt and extra spending for S S public works programs 5 ment relief the the AAA S and its substitute measures have r. r gS been sufficiently heavy to make 0 this the th seventh year of continuous r ous deficit Even though this years year's deficit is the lowest since 1931 if ifS S iJ L present plans are followed the na- na naS S debt will reach forty bil bil- bil- bil bilS S S lions of dollars next year e r. r This in includes in- in inS dudes sixteen billion incurred dur dur- during during during ing the war and eight billion from S S the Hoover Hoo administration 0 5 In the main Dr Walker Valker said Mm it it is is not the size of years year's deficit deficitS S that is is important it is the continuous ous ous unbalanced budget which is serious By going in debt the gov gov- government government S faces problems and wor wor- worms S ms Ties which come to anyone whose expense exceeds the income a ily il mortgaged farmer for instance In general it is considered safe lor a government or an individual individualS S to 10 go into debt two or two and a S half naif times what the annual income S is is that is it would be safe for a person earning 1000 a year to buy buyS S a home for 2000 or 2500 but it 5 would be risky risk to go into debt J. J 1 much heavier than than that Professor Walker Valker explained If the same S S j reasoning is Correct correct in govern men men- ment I S. S t tal affairs since the income of the federal government is about six I S billion a year a national debt of S pore more more than twelve or fifteen billion billionS S is is higher than it should be That means I S means the government go will vill either cither S nave oa to get more income cut the S S debt or r face the undesirable re- re reThe suits The government S can probably S 'S stand more debt yet et but if the def- def deficit def'S kit 11 continues to pile up indefinite indefinite- S J Valker Vall r said those who read I the handwriting on the wall can 5 see nothing but the S. S inevitable dis- dis disaster aster lave have Vf from m which lh other countries suffered the unavoidable in- in inflation inflation all nations have faced in ini t 0 i going into debt excessively S Inflation is an unfair unscientific fic wealth hazardous iZa Way of distributing taking S years to overcome o its upsetting after S effects and gen gen- genS geni i rations cant can't recover the ideals of S. S S thrift saving and work which in in- in inflation inS r destroys |