Word: billions
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Dates: during 1930-1939
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...sharp decline in WPA rolls since November's elections, and thereby gave them an argument against a big new WPA fund. Meanwhile, Senators studied a report by a special committee under South Carolina's Byrnes which, if translated into law, would effectively wreck WPA as a permanent, billion-dollar political machine...
...Eccles claim that the total amount of debt (public and private) is no greater than in 1929: "As you know, our national income is only 60 billion dollars, whereas for 1929 it was 80 billion dollars. The income out of which these debts must be paid has shrunken 20 billion dollars. . . . Our burden is the same. Our strength is much less...
...With respect to your general doctrine that a deficit will bring about business recovery, I call your attention to the fact that Mr. Hoover did very well in this matter. He had a deficit of $3,153,000,000 in 1932 preceded by a deficit of nearly a billion...
...increase in Government debt which practically offsets the decrease in private debt since 1929 has not however restored 1929's 80 billion dollar national income. Nor does the President expect 1929's income to be approached until idle private capital is put to work. To be put to work much of it must be lent, increasing to new heights the entire debt of the national economic system. In short, Franklin Roosevelt's vision of prosperity is that it will be achieved only when U. S. debt (public and private) far exceeds that...
Outgo. In fiscal 1940 the Government hopes to spend nearly half a billion less than this year-$8,995,000,000. With the world becoming unsafe for democracy again, biggest increase will be in national defense, and a real beanstalk in Franklin's garden is now interest on the national debt, which in 1940 will...