European Stars and Stripes (Newspaper) - July 2, 1959, Darmstadt, Hesse Thursday july 2, 1959 stars and stripes 1959 saw biggest peacetime deficit t fiscal 00 open Wuh Hope of budget surplus As Washington a the Eisenhower administration bade Farewell and Good rid dance to the 1959 fiscal year which produced history s biggest peacetime budget deficit vyv officials were ready to Welcome fiscali960 with Hope that the new economic Boom will swell tax revenues in the com ing 12 months and permit the first budget surplus in thre eve years the exact size of the old year s deficit won t be announced for about three . Officials said it will run close to the offi Cial january forecast of $12.9 billion. Budget director Maurice h. Stans told budget deficit of $57milhon jars Michigan Lansing Mich. Up a new political War flared As Michigan ended its fiscal year with a $57million shortage and a forecast that the worst was yet to come. It marked the seventh time inthe last 11 fiscal years the state has had a year end operating1 Defi Cit. Gov. G. Mennen Williams and gop lawmakers said i told Youso to each other As the made no Progress s toward ending their six month impasse on the Cash crisis. Williams Cabinet cleaned out Allbut $400,000 from the Treasury when it released funds to meet welfare payroll and University obligations. $50 million Trust fund but school districts now $29.3 million behind on state Aid an vendors contractors and cities and villages were told they would have to wait until the legislature cashes in the $50 million veterans Trust fund. Williams warned the slate would be in really desperate shape the first two weeks in july unless the fund is tapped. Lawmakers ignored the plea an instead attacked Williams who sunday had accused Blind Sam sons in the Senate of shaking the pillars of the state and sell ing out to a group of lobbyists from big Williams attacked i could accuse the governor of Selling out the people of his stat for a personal political Victory to make him look better on the National scene with the i960 presidential nominations coming up said Frank d. Beadle majority Green a Kingston House gop Leader said Williams is starting to sound like gov Earl a Long the Louisiana governor who has been under care of state chairman Lawrence b. Lindener said William vituperation was a Mark of arro a Senate committee last week that bigger than expected revenues might Cut the 1959 deficit by several Hundred million 1959 brought the fourth deficit in six year for the Eisenhower administration. For fiscal 1960, the president predicted a slim surplus of $70 million in his Jan uary budget message. The Outlook has changed since then however and the re visit of estimate to be made Public in sep tember will show some major administration now expects taxes to yield about. $600 million More than the$77.1 billion predicted in january. Some other competent observers see Revenue rising at least $1.5 billion above the Jan uary figure. Spending also will Rise above the $77billion which or. Eisenhower asked con Gress to authorize. The administration say that for one thing the Cost of interest on the National debt will jump $500 million to $8.6. Billion. The january Revenue estimates were based on expectations that 1959 corporate profits will total $47 billion and personal income will hit $374 billion. Many economists now believe profits will jump to a record $50 billion and that in come will total at least $378 a profit surge would add about $1.5 billion to revenues while the higher personal income would mean at least an extra $500 that basis revenues could go to $79 billion or the 1959 fiscal year the official Esti mates still Are that spending will total$80.9 billion and revenues $68 billion. The largest previous peacetime budget deficit was $4,425,000,000 in fiscal 1936. The biggest wartime deficit was $57,420,000.000 in fiscal 1943. Scheme to orbit Telescope studied Means of exploring universe Washington up the government announced studies aimed at putting a 50-Inch Telescope int orbit to examine a universe invisible to Man from the a Telescope with adjust ments for seeing in ultraviolet Light and Gamma and a race nation would reveal aspects of creation screened out by the Earth s National science foundation psf said the studies Are being made by the Kitt Peak National Observatory near Tucson ariz.,with a $160,000 psf Grant. The work is being done in cooperation with the National aeronautics an space administration Nasa. Preliminary findings indicate the Telescope orbiting aboard a Satel Lite several thousand Miles have a working lifetime of five to 10 years the psf above the atmosphere should be Able to View planets or Distant stars with unprecedented clarity the psf said. The should be capable of showing de Tail never seen from the Earth surface even with the Palomar 200 Inch Telescope in orbiting Telescope could Send its observations Back to Earth Bya television link or other suitable radio communication the foundation added that placing a Large Telescope outside the Earth s atmospheric cover is expected to Lead to astronomical discoveries of the greatest 40,000 Lions open biggest meet in . New York up the largest convention in the history of lion International has opened in Madi son Square Garden. More than 40,000 Lions represent ing 595,000 members in 14,000 clubs in 99 countries or geographical areas attended the opening session of the four Day convention. New York gov. Nelson a. Rocke Feller welcomed members of the world s largest service club in an address in which he said the rapid for the glorious fourth the big pay off when a savings Bond matures Martin Schwarzschil Princeton University astronomer adjusts telescopic camera before it is lofted 80,000 feet from a Minneapolis site to take photographs of the Sun. Scientists Hope to put a similar but much larger telescopic device into orbit As a Means of probing the mysteries of the universe. Associated press photo aifr6pjambs Mel Casson Good for morale bad on the Scalp Kansas City a twelve year old Jane Hadley returned from her swimming class her Brown hair a mass of tangles. Each time her Mother mrs. Hugh Hadley tried to run a comb through it Jane shied away. Questioning brought out the reason. I m the Only girl in the swim Ming class and1 All the boys have Crew cuts. I m the Only one they can practice the hair carry on incur life saving lessons kills unhurt in train wreck Worcester mass. Up several Hundred Camp bound youngsters aboard a new York Tor Ortland me train escaped injury when six cars jumped the track at Union station old folks at Homta except to mailman Rahns a. A the folks in this Rural Southeastern Pennsylvania Hamlet gave Home delivered mail a try. They did t like of the 118 resident have signed a petition asking the Post office to go Back to the of
