Word: deficits
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Dates: during 1920-1929
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...between the country's two major parties, allowed themselves to note that the G. 0. P. had arrived at Kansas City with its business organization intact, while the Democrats were faced with the necessity of complete reorganization. They recalled that every presidential campaign leaves the Democrats with a deficit, precluding all activity for the next four years, leaving leadership in the hands of Senators and Congressmen interested in their own reelection. Few party angels are available on demand (Houstonian Jones appeared as an archangel); between elections the national organization collapses completely or in part, depending on the enthusiasm...
Therefore, masterfully, the President said: "Taking into consideration the legislation enacted during the last session of the Congress, we find that for 1929 our receipts will be about $3,707,000,000 and our estimated expenditures $3,801,000,000. These estimates might seem to forecast a deficit." Insupportable thought, to be quickly dismissed by the prestige of a Presidential first person: "I do not face the coming year with any thought that we will not balance the budget. This nation is committed irrevocably to balancing the budget...
...budget. Arose, therefore, General Lord, hoarder of pennies, good storyteller. Said he: "Are we disturbed? Well, perhaps disturbed, but not discouraged. Down, but not out. We accept the challenge. . . . Expenditure will be kept inside revenue, no matter what the decrease in revenue may be." General Lord stared the deficit in the face, recalled the black days of 1919: "In certain localities it is the custom to refer to the year of the big snow or the great flood. ... I think our Treasury will always refer to 1919 as the year of the big debt and big deficit" (debt...
Somewhere in the makeup of the most efficient and energetic American is a weakness for parades and few obligations will keep him from stopping to watch one go by. Yet often processions that are arranged for his sole benefit meet with the most complete neglect, as witness the substantial deficit remaining to Mr. Pyle after the completion of his cross country "bunion derby". In Nebraska another attempted parade has just fallen through. This time it is the calvacade of indignant farmers in autos that was expected to descend upon Kansas City and impress upon the Republican Convention gathered there...
...Deficit...