Word: deficits
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Dates: during 1930-1939
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...milking the cows, Farmer Smart sings Gregorian chants. Their outdoor privy, built last year by the WPA, is decorated with colored reproductions of Toulouse-Lautrec, Laurencin, Chirico. Winters, the Smarts produce plays in Chillicothe's Little Theatre. Farmer Smart believes that the land should be socialized. His farm deficit he makes up by clipping coupons ("much less pleasant than shoveling dung"). But in common with plain farmers he wants to make his farm pay by the sweat of his own brow...
Asked whether the bill had been introduced on the suggestion of the city of Cambridge the tax sponsor replied, "No, I introduced the bill on my own." Foley denied that the excise was aimed to wipe out a deficit in the city treasury...
...budget, the forecast for receipts was $5,919,000,000, for expenditures $6,869,000,000. Result: a 1939 net deficit of $950,000,000. On the outgo side the President tentatively set down Defense at just under a billion, Relief at just over a billion, then added: "Due to world conditions over which this Nation has no control, I may find it necessary to request additional appropriations for national defense. Furthermore, the economic situation may not improve-and if it does not, I expect the approval of Congress and the public for additional appropriations if they become necessary...
Trend. Only comfort the President could give Congress was that the trend of deficits had turned downward from the 1934 peak. But 1939 will bring the Government's ninth consecutive deficit-three of them Herbert Hoover's, six Franklin Roosevelt's. The deficits for fiscal years in millions of dollars...
Actually if expenditures for Defense and Relief exceed the tentative estimates-or revenue falls short of expectations-by $150,000,000, the trend will be reversed, the deficit will again start...