£300,000,000 DEFICIT
THE AMERICAN BUDGET HOPE FOR IMPROVEMENT' WASHINGTON, Nov. 20. The Budget deficit for tho fiscal year ended Juno 30, 1934, including extraordinary expenditures by thq Roosevelt administration, is expeetpd to exceed £300,000,000. It is hoped, however, to cut the following year’s Budget to £500,000,000 for ordinary disbursements. With emergency expenditures substantially decreased, £500,000,000 would represent a substantial decrease from the £860,000,000 Budget asked for by Mr. Hoover a year ago. The Budget director, Mr. Douglas, hopes to be much nearer balancing the Budget for 1934-35.
Incidentally, aside from the £IOO,000,000 to £2*00,000,000 revenue that it is hoped to derive from liquor next year, it is indicated that a £60,000,000 to £80,000,000 increase in income taxes is expected to be levied on wealthy individuals and corporations.
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Bibliographic details
Poverty Bay Herald, Volume LX, Issue 18252, 22 November 1933, Page 7
Word Count
127£300,000,000 DEFICIT Poverty Bay Herald, Volume LX, Issue 18252, 22 November 1933, Page 7
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