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

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.
  1. 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.
  2. Restriction of monopoly and unfair business practices; assistance to small business; and the promotion of the free competitive system of private enterprise.
  3. Continuation of an aggressive program of home construction.
  4. 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.
  5. Protection of a fair level of return to farmers in post-war agriculture.
Source: Pres. Truman's 1947 State of the Union message to Congress , Jan 6, 1947

  • Click here for definitions & background information on Budget & Economy.
  • Click here for VoteMatch responses by Harry S Truman.
  • Click here for AmericansElect.org quiz by Harry S Truman.
Other past presidents on Budget & Economy: Harry S Truman on other issues:
Former Presidents:
Barack Obama(D,2009-2017)
George W. Bush(R,2001-2009)
Bill Clinton(D,1993-2001)
George Bush Sr.(R,1989-1993)
Ronald Reagan(R,1981-1989)
Jimmy Carter(D,1977-1981)
Gerald Ford(R,1974-1977)
Richard Nixon(R,1969-1974)
Lyndon Johnson(D,1963-1969)
John F. Kennedy(D,1961-1963)
Dwight Eisenhower(R,1953-1961)
Harry S Truman(D,1945-1953)

Past Vice Presidents:
V.P.Joseph Biden
V.P.Dick Cheney
V.P.Al Gore
V.P.Dan Quayle
Sen.Bob Dole

Political Parties:
Republican Party
Democratic Party
Libertarian Party
Green Party
Reform Party
Natural Law Party
Tea Party
Constitution Party
Civil Rights
Foreign Policy
Free Trade
Govt. Reform
Gun Control
Health Care
Homeland Security
Social Security
Tax Reform

Page last updated: Feb 22, 2022