Magazine content is available exclusively for TIME subscribers.THE PRESIDENCY: A Matter of $40 Billion
President Truman last week journeyed to Groton, Conn., for the keel-laying ceremony of the first atomic submarine, Nautilus (TIME, Dec. 17). The Nautilus is further along than the term keel-laying suggests. Many of its parts have been prefabricated; it should be in the water early next year.
Truman took the occasion to swipe at a remark attributed to Eisenhower that $40 billion could be cut from the federal taxes. Said the President: "That would leave us with about half enough money to support our armed forces even if we didn't spend a dollar for anything else."
In context, Eisenhower meant that...
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