But what about the cost ? The summary of the
Budget for the year 1935-1936 shows an estimated gross deficit of about £905,000,000. This does not dismay Mr. Roosevelt. The ordinary Budget, leaving out emergency expenditure, is easily balanced, and shows a small surplus. The deficit will be an addition to the National Debt ; and to this must be added an estimated expenditure of another £800,000,000 on the Recovery measures outlined in his Message. The President no longer names any date on which he can promise or expect a balance between revenue and expenditure. His plan is to spend money with a view to prosperity, and prosperity when it comes will be able to deal with accumulations of debt. It must not be forgotten that he starts with a smaller National Debt than that of Great Britain, and that the population is nearly three times ours. Congress will look with critical eyes on the items of expenditure ; and the Supreme Court's unexpected decision on the illegality of orders imposing a restriction on oil-production suggests that the Adminis: tration may need to seek new legislative powers to complete parts of its existing programme. But there are left wing supporters who are complaining, not that Mr. Roosevelt is proposing to spend too much, but that he ought to spend far more.
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