Harry S Truman on Budget & Economy
Pay-as-you-go for a balanced budget
"There is nothing sacred about the pay-as-you-go idea so far as I am concerned, except that it represents the soundest principle of financing that I know."
"We believe in economy, and a balanced budget. Therefore, a tax levy should be made to meet the
increasing costs of essential security. And the sooner we face up to the need for such a tax, the sooner we will avoid piling up a federal debt that might become unmanageable."
Source: The Wit & Wisdom of Harry Truman, by Ralph Keyes, p. 32-33
, Jan 15, 1953
GOP trickle-down mostly helps Wall Street & big business
"But they have no trouble at all hearing what Wall Street is saying. They are able to catch the slightest whisper from big business and the special interests. "
"The Republican policy is to let the big fellow get the big incomes, and let a little of it trickle down off the table like the crumbs fell to Lazarus."
Source: The Wit & Wisdom of Harry Truman, by Ralph Keyes, p.160-161
, Jan 15, 1953
We need lower prices, higher wages, and more electricity
Great as our progress has been, we still have a long way to go. As we look around the country, many of our shortcomings stand out in bold relief.
Each of these shortcomings is also an opportunity--an opportunity for the Congress and the President to work for the good of the people.
Source: Pres. Truman's 1949 State of the Union message to Congress
, Jan 5, 1949
- We are suffering from excessively high prices.
- Our production is still not large enough to satisfy
- Our minimum wages are far too low.
- Our farmers still face an uncertain future. And too many of them lack the benefits of our modern civilization.
- We are acutely short of electric power, although the means for developing such power
- Five million families are still living in slums and firetraps.
- Our health is far behind the progress of medical science. Proper medical care is so expensive that it is out of the reach of the great majority of our citizens.
Our democratic ideals are often thwarted by prejudice and intolerance.
Economic policy to avoid inflationary wage & price increases
An important present source of danger to our economy is the possibility that prices might be raised. Today I shall outline five major economic policies.
Source: Pres. Truman's 1947 State of the Union message to Congress
, Jan 6, 1947
- The promotion of greater harmony between labor and management. It is up to industry not only
to hold the line on existing prices, but to make reductions whenever profits justify such action. It is up to labor to refrain from pressing for unjustified wage increases that will force increases in the price level.
Restriction of monopoly and unfair business practices; assistance to small business; and the promotion of the free competitive system of private enterprise.
- Continuation of an aggressive program of home construction.
- The balancing of the budget in
the next fiscal year and the achieving of a substantial surplus to be applied to the reduction of the public debt.
- Protection of a fair level of return to farmers in post-war agriculture.
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Other past presidents on Budget & Economy:
Harry S Truman on other issues:
George W. Bush(R,2001-2009)
George Bush Sr.(R,1989-1993)
John F. Kennedy(D,1961-1963)
Harry S Truman(D,1945-1953)
Past Vice Presidents:
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Page last updated: Dec 30, 2015