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. 5. end leave a big hole ‘in the economy, but that you divert monic. Jenat you spent on armaments to other purposes. There is, they add, no soarcity of projects on which funds released from disarmamsnt might be sponte + Basio to any program that might be put into effect as a result of military con~ tract ‘outdaoks and omocllations would be a tax reducticne Such a reduction would release large amounts of mney for spending by individuals and corporations. Just as war-time savings were releasci for the purchase of consumer goods at tho end of World Wer II, se might a mejor tax reduction make fimds available for spmding on consumsr goods end scrvices. Many economists believe that a tax reduction = in con= cert with other sotions = could stimlate the economy suffioiently to avoid a fin- endiel orisisg Many also contend that to use savings from defense outs to run a budget surplus end reduce the national debt would, in effect, slow dorm the soonory by cousing a shrinkage in economio activity. . There ere, of course, many areas in whioh Federel, state, md locel goverment expenditures need to be increasede Some of those ere: drea redsvelovrent. The investment required to make our cities attractive md healthy places in which to live has been estimatsd as running into the hundreds of billions of dollars. The Rockefeller Brothers Fund reoeatly estimated that I0 rile | licn substandard urben dwelling mits would cost an average of perhaps $10,000 each to replace. (Or a total of $100 billions) Education (4noluding school construstion). To provide for ean increasing nuzber of schooleege children, for moro average years por student, end to obtain enough teachsrs of sufficient quality to make this huge investment of student-years worth- while, will, according to the Rockcfeller Brothers Fund, probably require doubling by 1967 the $13 billion spent for education in 1957. Equally increased expenditures could be invested in other areas where glering deficiencies already exist such as health (including hospital construction), house dug, public works (including conservation projects, flood control, and irrigation aysters), recreational facilities, roads, sewage disposal and water supply (aie reedy there is a water shortage in many areas, and it is even predictod thet by 1370, some localities may have to restrict the number of new residents and of new industries because of the shortest.) Tncroased Add to Kowly Dovoloping Comtries. If funds were mais aveilablo, the United States could; of courss, mko a concentrated effort to provide lerce Seale eocnomio sid ond teolnical assistenos to the underdevcloped comtrios ef tho world. Many eoonordsts foroses this es ono of the major intornational problms of tho noxt doondes. According to Paul Hoffman, former U.S. Marshall Plan s Xmaging Direotor, U.N. Speoin) Fund, despite all tho offert cies, national agmoiosy nation Bovornnterts emi interngticea into the eccno istrater md now that voluntary osme national income is increasing in the wndordovet oped cou. SB poremt a yonre Ful pepuletion dn these same couitrisn ds ins