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Show MONEY AND figures have been making the news in Washington Washing-ton for the past week or so. Some of the news was good and some of it bad. The bad news for the public was the fact that the nation's living costs increased for the second straight month. Higher prices for food, rent, medical care, gasoline and motor oil were cited by the Bureau of Labor Statistics as the chief factor In the cost-of-living increase. Living costs reached a peak last November, from which they declined de-clined during the winter. They began be-gan rising again In the spring and early summer and reached i new high in mid-June. Th mid-June figure was 114.5 per cent of the 1947-49 vcrage. The latest index, reflecting mid-July prices and establishing es-tablishing another record, was 114.7. The good news for the nation was the announcement by Treasury Secretary Humphrey that the U. S. has reached the turning point toward to-ward a balanced budget. He announced an-nounced the government will spend $72,100,000,000 in the fiscal year 1954 and have net receipts of $68,-300,000,000. $68,-300,000,000. It will wind up the year with a deficit of $3,800,000,000 and a national debt of $27L-100,000,000. $27L-100,000,000. These figures mean that the national na-tional debt will be $1,900,000,000 lower than the administration predicted pre-dicted in July. The new figures place the budget almost in balance next July 30, considering straight cash income to. the government and cash outgo. The government also announced an-nounced that tht public paid a record amouy.l of taxes in the last fiscal year $69,687,000,000. Total collections were 7.2 per cent higher than in the previous year. Corporation taxes increased by the smallest percentage of any classification. Corporations paid income in-come and profits taxes amounting to $21,467,000,000 in fiscal 1952 and $21,595,000,000 in fiscal 1953. The increase in personal Income and employment taxes was 10.4 per cent. Individuals paid $33,738,-000,000 $33,738,-000,000 in 1952. In fiscal 1953 they paid $37,255,000,000. This made Individual In-dividual tax payments the biggest single source of revenue. Manufacturers paid $2,296,000,000 in excise taxes In 1952 and $2,863,-000,000 $2,863,-000,000 in 1953. Alcohol taxes totaled $2,781,000,000. |