Budget Deficit Seen Nearing $40 Billion: Budget Deficit of $40 Billion Is Seen
Under Secretary of the Treasury Paul A. Volcker said yesterday that the federal governmentÛªs budget deficit for the current fiscal year is going to be ÛÏvery substantial,Û and that this may raise anew questions about the dollarÛªs stability in world markets.</br></br>1972 will run just under S40 billion, more than three times.' President Nixon's estimate of, SI 1.6 billion last .January, and. the hipest cl elicit since the; World War H year of 1945, j when it was S45 billion. The! last published estimate by the j \ixon administration, in duly.; was $18.6 billion.	,</br></br>Last September. Treasury > Secretary John B. ConnallyJ gave the Ways and Means! Committee an unofficial guess! that Hie deficit would run between S27 billion and $28 billion.</br></br>The actual budget estimate for Fiscal 1972, which ends June 30. will be sent to Congress next Monday There is the possibility that Mr. Nixon will announce it initially in his State of the Union message on Thursday.</br></br>President Nixon will also announce his budget program for the new fiscal year (19715), and the expectation is that there will be another large deficit, but probably only half the size of the Fiscal 1972 number.