Word: nets
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Dates: during 1930-1939
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...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 of income tax revenues, an underestimate of the possibilities of Recession...
...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...
...railroads are as prosperous as the Chesapeake & Ohio, whose tracks from Norfolk to Chicago brought it a net income of $43,700,000 in 1936, of $31.000,000 in the first eleven months of 1937. Few U. S. railroads have been closer to insolvency without actually being in that parlous state than the Erie, whose tracks from Chicago to New York have been kept in operation in recent years only by loans totaling $16.582.000 from Reconstruction Finance Corp. Both lines are part of the old Van Sweringen system and ! last month they b came even more closely related when...
...main criticisms was that "The contralized agrarian program takes money from the middle and poor classes in the United States in proportion as they are poverty stricken. The relief authorities give it back to the very poor. The net sufferers are the middle classes...
After a succession of melees in front of the home team's goal Hulse rifled the winning tally through Harding net tender for the schoolboys, on a pass from...