position and intentions are shown and in this way part of the window is cleared.
This fiscal year's budget is intended to accomplish a balance of all government accounts. It discards the practice of encouraging and permitting the people to believe the situation is different than it is by emphasizing merely the result given in the general accounts of the government which is only part of the story of what the government is doing with public funds.
The Japanese government budget system is inadequate, both in its mechanism and the time elements allowed for preparing a budget. It has been completely ineffective as an instrument of administrative control. It is neither clear nor understandable. It has not shown all of the current government obligation. The record of the past shows that is has had little meaning. It has been a record of budget delays, provisional budgets, supplementary budgets and deficits.
The 1948 Deficit Record
In 10 months of the last fiscal year the government debt increased 178 billion. At the end of the fiscal year the government had an unfunded deficit of about 48 billion. A large part of this increase in debt was nothing more than a funded deficit. Any combination or adjustment of these figures indicates an actual deficit of more than 150 billion for fiscal year 1948.
The Overall Budget
The total figures of the consolidated budget will appear large for several reasons, First because it is a consolidated budget. Second, because it is on a higher indlation level than existed a year ago. Third, because there are so many elements appearing in the budget for the first time, which had previously been obscured in other accounts. Fourth, because the bedget computation includes many inter-account transfers, viz., amounts appearing on the disbursement side of account and the revenue side of another.
