Word: deflcit
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Dates: during 1930-1939
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...every dollar spent during the current fiscal year the United States Government has taken in 51 cents in taxes. On February 4 the deflcit was $2,011,041,971. If Senator Glass' efforts to delete the "not loss than the prevailing wage" clause injected into the work-relief bill is not successful the cost of the program will be jumped, according to administration estimates, from $4,880,000,000 to $7,000,000,000. Thus over two billions more would be added to the wrong side of an already unbalanced budget for the present fiscal year...
...than during the regular year means less profit especially during the summer sine the rate is a dollar lower for the twenty-one meals a week. Certainly the University Dining Halls know enough economics to avoid a loss for one period in the hope that in the end the deflcit will be covered, and certainly the summer school is eager to stay out of the red this year. It is not unreasonable to suppose that somewhere there must be a sacrifice for economy...
Senator Bingham, of Connecticut, is the latest to raise his voice in protest at the majority Republican policy of meeting the impending federal deflcit by large scale borrowing. He champions in its stead a taxation of a greater proportion of the population. Under the present system corporations and the very wealthy bear the chief burden of national support. Mr. Bingham believes that the more people paying taxes, the greater will be the sense of public responsibility for national economy. At present, he feels that the un-taxes portion of the public forces large appropriations from the government under the impression...
Direct taxation has been a source of trouble in the past and will probably continue to be so in the future. Unless the deflcit is met by increased taxes, however, the country as a whole will suffer indirectly through higher prices. A billion dollar deflcit is a heavy load under any circumstances, but a raise in taxes now will strain national credit less in the future than would wide-spread borrowing by the federal government, which is the course of least resistance at the present time...