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Show Bigger budget higher taxes This year's administrative budget was announced at under $100 billion by President Johnson. John-son. However, the best estimates esti-mates as of now are that by the end of the fiscal year, on July 1, 1966, the Administration Administra-tion will have gone at least $10 billion over what was budgeted. This will give the Treasury one of the biggest peacetime deficits in history. Close to $50 billion will go for defense alone and there are such expenditures as foreign for-eign aid, a solid $3.3 billion, and other programs begun by previous administrations. Great Society programs, for which the American taxpayer will be paying in the next five years, add up to some $111 billion in new authorizations. Of that $1 billion will go to the Appalachia relief project, $7 billion for a Federal aid-to-education step-up, and a conservatively con-servatively estimated $5 billion for the poverty war. |