Word: fiscal
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Dates: during 1930-1939
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...Before taking up the budget of the next fiscal year (1939) in a special message read to Congress last week the President reviewed the budget for fiscal 1938 ending next June. Revising his figures on the current budget for the fourth time since he predicted a "layman's balance" a year ago, President Roosevelt estimated receipts at $6,320,000,000, expenditures at $7,408,000,000. Result: a 1938 net deficit of $1,088,000,000. The change in the past year from an estimated balance to a billion-dollar deficit was caused largely by an overestimate...
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...
...retail inventories, Editor Stanley Shaw of Standard Trade & Securities last week declared: "The majority of large retail distributors appear confident that by the end of their fiscal years on Jan. 31, total inventories, which in many cases showed increases as high as 10% to 20% above year earlier levels last fall, will be down to within 3% to 5% of those carried at the fiscal year-end in 1937." Automobile factories work on an order basis and so have rather small current inventories of cars. But GM dealers alone, according to President Knudsen, now have some 200,000 cars...
...preliminary estimates . . . called for appropriations to commence during the fiscal year 1939 two battleships, two light cruisers, eight destroyers and six submarines. Since that time world events have caused me growing concern. . . . The fact is that in the world as a whole many nations are not only continuing but are enlarging their armament programs. I have used every conceivable effort to stop this trend and to work toward a decrease of armaments. Facts, nevertheless, are facts. and the United States must recognize them. Will you, therefore, be good enough to inform the subcommittee on Naval Appropriations that after the next...
Budget-"The proposed budget for 1939 [the fiscal year beginning next July 1], which I shall shortly send to the Congress, will exhibit a further decrease in the deficit, though not an actual balance...