Show Ship of State Flounders In Deep Blue Deficit 32 0 r. r r war a m 65 65 60 66 07 67 68 66 69 70 71 72 73 74 75 76 78 77 FISCAL YEAR est The US U.S. Budget has been In the black only once since 1965 and total tola public debt deb figures announced recently are arc a staggering billion What's more more the experts say the deficit will reach 1 trUll trillion n by 1982 unless Congress acts to keep spending within income Interest costs alone are estimated at billion this year and 45 billion In the year beginning October 1 the third highest item of federal spending behind national defense and income security Almost ten per cent of the total budget is thus spent on interest owed to individuals corporations banks and governmental bodies including the federal government Itself Taxpayers Taxpayers Tax Tax- payers payen not only must pay for this growing Interest burden but also pay the higher prices caused by deficit spending |