DEFICIT PREDICTED
UNITED STATES BUDGET FIRST PREDICTED SINCE WAR (United P.A.—Bp Telegraph Copyright) (Australian and -V.7. Press Association.) WASHINGTON, Sunday. The Director of the Budget. Mr. H. M. Lord, to-day submitted his estimates. These show a probable deficit of about £15.555.870 for 1929. This deficit, which is the first to have definitely predicted since the war, is due to increased Government expenditure, decreased tax collections. increased plans for activities of the Government bureaux, lower receipts from most of the sources of income, increases in general expenditure, a Postal Department deficiency and expenses of the Shipping Board. The Government Life Insurance Fund, the Alien Property Fund and customs and internal revenue receipts have decreased considerably.
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Bibliographic details
Sun (Auckland), Volume II, Issue 444, 28 August 1928, Page 9
Word Count
114DEFICIT PREDICTED Sun (Auckland), Volume II, Issue 444, 28 August 1928, Page 9
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