III. THE BUDGET FOR THE FEDERAL PROGRAM FOR THE FISCAL YEAR 1947/ THE ECONOMIC IMPACT OF THE LIQUIDATION OF THE WAR PROGRAM: Government programs are of such importance in the development of production and employment opportunities-domestic and international--that it has become essential to formulate and consider the Federal Budget in the light of the Nation's budget as a whole. The relationship between the receipts, expenditures, and savings of consumers, business, and government is shown in the accompanying table. Considering the whole Nation, total expenditures must equal the total receipts, because what any individual or group spends becomes receipts of other individuals or groups.