THE FEDERAL GOVERNMENT finished fiscal year 1960, which ended last June 30, with not only a balanced budget but a surplus of $I. I billion. This represents a very encouraging turnaround from the prior fiscal year when the Government incurred a recession-induced deficit of almost $12 ½ billions.
The Budget surplus results from revenues of $78.4 billion and expenditures of $77.3 billion. full details of receipts and expenditures are available in a joint announcement being made at this time in Washington by the Secretary of the Treasury and the Director of the Bureau of the Budget.
This demonstration of fiscal responsibility not only reinforces economic strength here at home, but reaffirms to the world that the United States intends to run its financial affairs on a sound basis.
Note: Details of receipts and expenditures, as announced by the Secretary of the Treasury and the Director of the Bureau of the Budget on July 20, are published in the "Monthly Statement of Receipts and Expenditures of the United States Government--For the Period July 1, 1959, through June 30, 1960" (Government Printing Office, 1960).
The President's statement was released at the U.S. Naval Base, Newport, R.I.
Dwight D. Eisenhower, Statement by the President on the Budget Surplus for fiscal Year 1960. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/235073