Word: outgoing
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Dates: during 1940-1949
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Liberal spending, if necessary to create federally financed jobs, had been part & parcel of the original Murray-Wagner proposal; an unbalanced budget had been the financial keystone of Franklin Roosevelt's and Harry Truman's administrations. Federal outgo and income had not matched since June 1930, just after the beginning of the last great depression, and the national debt now stood at $26.2 billion. But when the Taft amendment was put before the Senate, "Dear Alben" Barkley spoke only a few mild-mannered words of protest. Then Georgia's economy-minded George rose to thunder...
...excess-profits tax ought to be abolished, the tax laws altered so that there would not be any disadvantage in equity financing; social-security taxes should be kept down to a level where they would balance outgo...
Another reason for the gap between income and outgo is the increased cost of union labor in recent years. In 1905 (when a limited financial statement was issued), Manager Heinrich Conried paid $544,000 to his principal singers (compared with the $532,900 paid by the Met last season), but only $95,000 for his orchestra ($341,000 last season), $66,000 for his chorus and ballet ($254,800 last season...
Last July, for the first time, monthly outgo crossed $1 billion. By January 1942 the $2 billion milepost whizzed by. In April the figure was $3.2 billions; an incredible billion-a-week total is in sight. To maintain a 50-50 ratio between borrowing and taxing to meet war costs, Henry the Morgue faced the job of selling about $25 billions a year of Treasury securities. Notion Counter...
...Treasury receipts in March totaled a walloping $3.547,000,000-highest ever, only 25% less than collected in all 1929. Income-tax collections were no less than $3,083,000,000. However big, the month's revenue exceeded outgo by only $125,000,000. This will probably be the last month that the Government will have a cash surplus until the end of World...