PRESIDENT ASKS 71.8 BILLION BUDGET, A PEACETIME HIGH; TAX CUT OPPOSED; HUMPHREY IS CRITICAL OF SPENDING; MESSAGE IS SENT Receipts Are Estimated at $73,620,000,000 --Arms Costs Rise Highlights of Budget Special Trust Funds Aid to Small Business Budget Provides Record Spending for Many Projects EISENHOWER ASKS FOR 71.8 BILLION Budget Based on Estimates $200,000,000 for Mideast
WASHINGTON, Jan.16--President Eisenhower sent to Congress today a record peacetime budget. It estimated that the expenditures of the Federal Government would be $71,807,000,000 for the 1958 fiscal year, which begins next July 1.