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of estimates, while federal payments were only $1,000,000,000 above estimates, a net apparent gain of $2,000,000,000.
Let us assume, for the moment, that the committee staff is right, and that we end the fiscal year with $2,000,000,000 extra. What are we going to do with it?
The poll of 7th Congressional District voters which I conducted by mail last month showed those replying would favor, by more than 2 to 1, some reduction in the national debt before a surplus was applied to tax reduction.
The committee staff report was silent on the desirability of applying surplus to debt-reduction, but it did counsel against any tax reduction. The reason given wis that very powerful inflationary forces stUl are active in our economy, and tax reductions, giving opr citizens more money to spend, merely would contribute to this inflation.
I do not know what will become of this* promised surplus, but I do know that the Federal Government does not have a reputation for salting away its spare cash. Its reputation is for spending what it has and borrowing in order to spend
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