Word: deficits
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Dates: during 1920-1929
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...soldier bonus, increased salaries for government "field workers" under the Reclassification of Salaries Act, increased salaries for firemen and policemen of the District of Columbia. The expense was to come out of lump sum appropriations for the fiscal year 1924-25. This practice would later result in a deficit, but Congress would be able to provide the necessary funds in December. It seemed, however, that no method could be found to refund to income tax payers, who had paid their entire tax in March, their 25% rebate...
...fiscal year 1923, the postal revenues were $32,000,000 less than the costs of the service for that year. This deficit had to be met from the moneys paid by the taxpayers...
...should not add to the amount of the postal deficit as is proposed by this bill, but should attempt as a sound business principle to have the users of the mails approximately pay the cost of the mails...
...This deficit must be met by the "guarantors" of the organization, and represents about 65% of the sum they have actually guaranteed. Mr. Samuel Insull, President of the company's Board of Trustees, spoke cheerfully in announcing this news. "Last year," said he, "the guarantors had to pay $351,718.58-or a full 70 % of their guarantee." Anyone mathematically inclined can now figure out that if the affairs of the company continue to improve at this rate, the backers will have to dig into their bankrolls for only 13 additional seasons-that is, until...
...Thus, although expenses last year were $134,000,000 instead of $129,000,000 as in 1922, net operating income was $20,000,000 instead of $13,000,000 and a net income of $207,686 was shown in place of the previous year's deficit...