Word: deficits
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Dates: during 1930-1939
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...announcement that the Athletic Association will be allowed to run a deficit of $30,000 this year represents a compromise between President Conant's demand that the athletic budget be balanced and Mr. Bingham's request for a student tax or aid from the Corporation. To the prophets of disaster who believe that the day of large football gate receipts is past, the compromise will appear either as a postponement of the inevitable day of reckoning or a virtual subsidy to the H.A.A. But the outlook is by no means so gloomy as this. The time may come when college...
...debentures to the Treasury. The Treasury treated the transaction not as an expenditure but as an investment (which it nominally was). Thus the $2,045,000,000 passed out by the RFC in fiscal 1932 and 1933 was not treated as a Government expenditure, was not added to the deficit, although it increased the public debt. Thus the President might have ignored the $3,970,000,000 RFC outlay of 1934, might have announced a deficit not of $7,309,000,000 but of $3,339,000,000. Then he might have told Congress in sober truth: "Last summer...
Strategy. The President had a choice of two astute alternatives when he came to make up his budget: to balance the budget (which was possible if he denied himself "unforeseen" expenditures for fiscal 1935) or to unbalance the budget in a big way, to stagger the country with a deficit beyond all expectations. Few political quidnuncs failed to agree that he had chosen the more astute choice. Their varying reasons : 1) By telling the worst and putting the worst possible complexion on it he destroyed fears born of uncertainty, hastened the financial community's acceptance of the facts...
...Budget In Brief The U. S. Treasury plays only with blue chips. Every unit in the following tabulation represents $1,000,000. Fiscal Years Ordinary Government Expenses Emergency Expenses Total Expenses Total Receipts Deficit or Surplus Public Debt 1916 $ 734 None $ 734 $ 782 +$ 48 $ 1,225 1919 War expenses not segregated from ordinary expenses 18,514 5,152 -13,362 25,482 1929 3,299 None...
...imagination boggles at the extent of the deficit now contemplated," chimed in Viscount Rothermere's Daily Mail. "The whole Roosevelt program," summed up Baron Camrose's Daily Telegraph;, "is a gallant defiance of orthodoxy...