Show y BUSINESS NEWS US U Chamber Raps Budget Gimmicks The Admin Admin- Administrations widely publicized gap gIP will certainly be affected by the January 1111 un- un unveiling veiling of the fiscal bud budget lt according to a 1 report by the US Chamber Ch of Commerce Last years year's ears budget was as greet ld with un unprecedented dims cism from private Jr ate and analysts the report con tines ll'S yet Administration spokesmen clung to lo the ri rigged ld claiming they were holding back inflationary tS pres- pressures So the fonca forecast t of 18 billion deficit now appears to lo be 7 or 01 8 billion PLAYING the fiscal numbers game is bound to backfire Ac Ac- Ac Accelerated tax collection col plans a shot one gimmick will not help this year Sll in Selling participation certificates In Federally owned assets like selling seJling the family car to me meet t installment debts got gol bla blackjacked by the tight money market markel now planned reductions in spending cannot bl be met The cost rost of Viet Nam can no longer langei be hidden b by ing reserve com components A 13 b billion defense supplemental hill bill was needed last January and u a 15 b billion one looms for fiscal 1967 even e though warnings about the inadequacy of the de de- de defense budget lent Arent unheeded INCREASED Interest l rates rutes will cost the Federal Govern Go mend m million more than es The President is desperately trying to avoid bumping into the debt ceiling of billion This keeps kleps Treasury officials fur trading in term short se curRies and further boosts in in- interest terest costs Adding the commitments 11 al- al already read ready voted for Great Society programs to l escalating defense costs leads the President down n an Increasingly narrow fiscal path Our continuing balance balance- trade of-trade problem a aggravated by commitments to lo defense and foreign aid further reduces the options the President may ex- ex exercise in trying to lessen his budget problems BECAUSE the budget is so sn su susceptible to manipulation it has become more and more a ai apolitical apolitical i political document The Vietnamese mese war with its priority on our limited dollars will ill not walt wait while hill domestic spending nerds make demonstrations ons for fOL more money It is clear that some kind of reconciliation between political wants and economic nerds needs has hasto hasto to be made ade The countr country will b be better off If the President will Instruct his makers budget to forego political considerations and give us a gimmick free budget in which more confidence dence can be placed |