Word: deficits
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Dates: during 1930-1939
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...citizen had begun to wonder whether the country was on the verge of a major business slump, the President made it clear by his saving intentions that he finally felt that the lean years were over. The week began with a new budget estimate showing a net deficit of $695,000,000 for fiscal 1938, $277,000,000 more than had been estimated last April (see p. 19). During the rest of the week Franklin Roosevelt emphasized & re-emphasized two points: 1) that he does not expect the deficit to grow any larger, and 2) that he expects the Federal...
...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...
...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 to $695,000,000. Even so, unless the figure is again upped considerably, it will be the first time the deficit has been below a billion since...
Temporarily, however, grim, Orval Adams was free to return to his opposition to the New Deal. In his brief acceptance speech last week, President Adams announced as his prime objective: "We Must Do Our Part Toward Making All of the People Deficit Conscious...
Professor Copeland concluded: "The continued deficit of the Federal Government . . . tends to have a two-barreled effect in shooting up the prices of commodities. First, the bonds serve to expand credit and to increase the amount of paper money in circulation. Secondly, the need for financing the deficit calls for easy money and the avoidance of those checks on credit expansion which might prevent an abnormal rise in commodity prices. . . . If past experience in this country and abroad were still of any significance, and if our affairs were not in the hands of a genius of unparalleled resourcefulness, I should...