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uicf cuumniicc uu Ways and -Means, on 'which l serve, to Afthat the legal limit of the nationU debt be raised. In January, pursuant to request^ a temporary raise billion, expiring June 'was voted. Then, with,federal fina—.. ing condition, we were asked for an increase to $285 billion in the permanent limit and a further temporary raise to $288 billion, expiring June 30, 1960. This was voted after testimony by Secretary of the Treasury Anderson which included these ominous "\facts::: V ' -—“Instead of a budget- deficit of $388 million for the year ended June 30, we incurred a deficit of $2.8. billion. This deficit was brought about because our net revenues amounted to $69.1 billion, against the Jauary estimates »f $72.4 billion.
“Instead of entering the current fiscal year ending June 30, 1959, with an anticipate budget surplus of $466 milliorakwe are now^ faced with an estimated budget deficit of about $ra^billion. This amount is based on estimates of $79 billion for expenditures and $67 billion for receipts.
"The estimated deficit will result in the public debt outstanding on June 30, 1959, of nearly $285 - billion.” • In its report, the Committee made plain that this was notjan
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