Word: budgets
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Dates: during 1930-1939
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...duplicate letters to South Carolina's Ellison D. Smith and Texas' Marvin Jones. Chairmen of the Senate and House Agriculture Committees, he hammered home the point that "any new legislation should not unbalance the expected balancing of the budget . . ." and that any new Treasury obligation should be "backed 100% by additional receipts from new taxes...
...first of his bi-weekly press conferences, he blamed the increased 1937-38 deficit on Congressional appropriations, said he expected next year's budget balance to be achieved without new or increased taxes. At his second press conference, he repeated "for about the 200th time" that next year's budget would be balanced...
Among the many things President Roosevelt did last week to indicate his honorable intentions toward a balanced budget (see p. 17), was to cast up an estimate of where he stood today. It was the President's third formal statement on the current budget, and the second revision since last January when he spoke hopefully of a "layman's balance" for fiscal 1938. By April that hope had faded to an estimated net deficit of $418,000,000, largely because of disappointing tax receipts. Last week the President had to hike his net deficit estimate once more...
Outgo. Total expenditures for fiscal 1938 are now estimated at $7,345,000.000, an increase of $89,000,000 over the original budget figure but $656,000,000 below fiscal 1937. Most conspicuous feature of the President's outgo schedule was that, although spending for Recovery & Relief has been slashed $1,139,000,000 from the previous fiscal year, other government spending continued to mount by nearly $500,000,000. As the President pointedly observed, a good part of this could be blamed on Congress...
Since the April budget estimate was submitted, $208,000,000 of expenditures have been knocked off by Administrative action and another $115,000,000 by bookkeeping adjustments in the Old Age Reserve Account, a total reduction of $323,000,000. But reduced interest rates on loans to farmers will cost the budget $40,000,000; extension of PWA, $25,000,000; social security tax refunds. $36.000,000; the Railroad Retirement Act, $113,000,000; cotton loans...