As a result, estimated expenditures will exceed estimated receipts by 4.3 billion dollars. This amount can be provided by a reduction in the cash balance in the Treasury. Thus, after a long period of increasing public debt resulting from depression budgets and war budgets, it is anticipated that no increase in the Federal debt will be required next year.
FEDERAL BUDGET EXPENDITURES AND BUDGET RECEIPTS
Including net outlays of Government corporations and credit agencies (based on existing and proposed legislation)
Fiscal year
Expenditures: 1946 1947
Defense, war, and war liquidation $49,000 $15,000
Aftermath of war: Veterans, interest, refunds 10,813 10,793
International finance (including proposed legislation) 2,614 2,754
Other activities 4,552 5,813
Activities based on proposed legislation