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Show Public Enterprise takes out cf Vie public chest. J Incidentally, the munitions and supplies for our army, navv and air forces; the capital expended for planes, battleships, government govern-ment owned yards and docks, naval bases and army fwtifica-tions fwtifica-tions after completion WILL NOT YIELD ONE SINGLE DOLL R OF TAX REVENUE. We must pay for the dc-fcr.se program as it goes along for with it wc are not building a permanent perman-ent Prosperity. In fact, i.-, ,--d !i-tion !i-tion to its huge cost, we will face large annual charge for it,- upkeep. up-keep. However, useful th-j oro-gram oro-gram may be as a temporary stimulate stim-ulate to business, its ultimate func-ion will be to sink i:r- further fur-ther into the slough of depression unless certain other thin-.-; are done NOW. These will be discussed discus-sed in a future issue of this pjper. The Economics Of Our National Defense Program By GEORGE PECK Can wo finance our defense program without further increasing increas-ing the national debt? Yes, we can if we have the will to do it. Furthermore, it is csseivtial that we do so for our future financial and economic stability after the Defense program is completed. How can we do this, despite the fact 'that some Americans be lieve our national debt will raise thirty billion dollars in the next three years? Tiie answer is simple. sim-ple. During the next 'three years, the level of our national income, conservatively, should be over 85 billion dollars per year or some 30 percent higher than the 1939 and 1940 incomes. This should accomplish two things: (1) Large reductions of outlays for relief and subsidies; (2) Provide Pro-vide a greater sum upon which without increasing the tax rate, Thus, the cost of ordinary government gover-nment should go down while, up further if non-military pub-government pub-government revenues should go up. Further if none-military public pub-lic works are cult to a bare minimum mini-mum and rigid economy exercised exerci-sed in government administration, an additional two or three billion dollars per year can be saved on the regular budget. Therefore, despite the vast ums which will have to be spent om the prosecution of the Defense program, is is not impossible for us to balance the nattional budget during its progress. This, on the face of it, would look as though we are now in the way to permanent prosperity. prosper-ity. But are we? Let's delve a little further into the matter lets take a look back stage. This prosperity is but temporary. It is true that any vast program of publics warks or defense, WHILE IT IS FN PROGRESS, acts as a tonic to production and provi des as much employment as does expansion in the field of Free Private Capital Enterprise. But there is one outstanding difference dif-ference between these two when it comes to ENDURING' prosperity. Free Private Capital Enterprise is self-sustaining while Public Enterprise En-terprise is not. In other words, Private capital projects are expected ex-pected to pay for themselves, provide pro-vide for their own replacement and at the same time, yield tax revenues with which to help carry on the expense of the government. Private Enterprise puts in while |