SMALLER DEFICIT
THE UNITED STATE® BUDGET.
AIM TO REASSURE BUSINESS.
(United Press Association—Copyright) WASHINGTON, September 29.
Mr Roosevelt, after his defence yesterday of the Agricultural Adjustment Act, authorised Treasury officials to issue supplementary Budget estimates for the fiscal year ending July, 1936, indicating that the annual deficit at that time would be less than was anticipated in the original budget estimates made in January.
The President’s action is interpreted as a further effort to reassure business interests that the spending programme will be gradually curbed 1 . The new estimates, in round numbers, place probable expenditure at 7,752,000,000 dollars, compared with the original 8,520,000,000 dollars andi prospective revenues at 4,470,000,000 dollars, against 3,991,000,000 dollars originally expected.
In a statement with, the new budget, the President expressed the belief that sound recovery was well under way, as was" shown by the increased revenues, and that no new taxes were contemplated except perhaps temporary ones to meet agricultural relief commitments. The new budget indicates that the public debt will be 30,700,000,000 dollars by July, 1936.
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Bibliographic details
Ashburton Guardian, Volume 55, Issue 299, 1 October 1935, Page 6
Word Count
172SMALLER DEFICIT Ashburton Guardian, Volume 55, Issue 299, 1 October 1935, Page 6
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