PRESIDENT'S PRESSURE THROUGH BUREAU OF BUDGET CREDITED FOR 50% LARGER THAN PREDICTED SURPLUS
Washington, D.C. (JFK+50) On July 1, 1923, the Sunday Star reports "Uncle Sam finished his fiscal year 1923 (with)...a surplus of $310,000,000."
This surplus "is more than 50 per cent larger" than predicted by President Warren G. Harding and his Director of the Budget General Lord.
It was made possible, the Star reports, by an increase of government receipts of $767,000,000 along with a reduction in expenditures of $366,000,000.
The President is given credit for exerting executive pressure through the Bureau of the Budget* on actual government spending.
*The Bureau of the Budget was created by the Budget and Accounting Act of 1921 which gave the POTUS overall responsibility for budget planning by requiring an annual comprehensive budget proposal to Congress. In 1971, BOB became the OFfice of Management & Budget.
SOURCE
"Government Ends Fiscal Year With Million Surplus," The Sunday Star, Washington, D.C., Chronicling America, Library of Congress, www.loc.gov/
