Word: outgoing
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Dates: during 1931-1931
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...make matters worse, other sources of revenue were also dwindling, and Government expenditures were constantly increasing. Customs receipts were $128,000,000 behind last year; miscellaneous taxes were down another $38,000,000. Outgo for fiscal 1931, now almost three-quarters over, was $200,000,000 larger than for the comparable period last year. The total of these circumstances spelled only one word: DEFICIT. President Hoover last December estimated the shortage at $180,000,000 for next June 30. Soon he revised it up to $350,000,000. When Congress passed the Bonus Loan bill he boosted...