The Treasury Deficit

Archive Report

Current Financial Position of the Government

Revenues and Expenditures of the Fiscal Year 1931

During the first eleven months of the fiscal year which ends June 30, 1931, the expenditures of the United States Government exceeded its receipts by $1,040,458,092. This deficit is larger by $860,381,435 than that estimated for the whole year by the Secretary of the Treasury in his annual report of November 30, 1930. Although no accurate comparison of budget estimates with actual figures can be made until the close of the fiscal year, it is clear that the discrepancy is due both to smaller receipts and larger expenditures than were anticipated. The estimates foresaw a decrease of receipts for the current year, as compared with the preceding year, of $243,076,458 and an ...

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