Report Outline
Depression Deficits of the Federal Government
Budget Policies of the Roosevelt Administration
General and Emergency Expenditures and Federal Assets
Special Focus
Depression Deficits of the Federal Government
Course of Receipts, Expenditures, and Debt, 1930–1934
During five years of depression, ensuing upon the stock market crash of October, 1929, deficits of the federal government totaled $11,655.000,000, accompanied by an increase of $11,005,000,000 in the national debt. Further deficits of large proportions are in prospect for the remainder of the present fiscal year and the next-fiscal year, with the outlook for a balanced budget in 1937 still uncertain.
The fiscal year 1930 ended with a surplus, due to the fact that the principal tax levies were based upon income received during the calendar year 1929, but in no subsequent year have the government's revenues come within striking distance of its total expenditures. The deficit of the fiscal year 1934 was nearly four and a half times as large as that of 1931.
In the federal government's last period of unbalanced budgets—the fiscal years 1917–1919, inclusive—it accumulated a total deficit of $23,257,000,000, and from March 31, 1917, to August 31, 1919, when the war debt reached its peak, the increase in debt for $25,315,000,000. The accumulated deficit of the depression period to date is a little more than half the total deficit of the war-armistice period. The public debt, however, is $592,946,000 in excess of the peak reached in 1919. |
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Federal Budget and National Debt |
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Sep. 01, 2017 |
National Debt |
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Jul. 12, 2013 |
Government Spending |
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May 15, 2012 |
State Capitalism |
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Mar. 18, 2011 |
National Debt |
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Nov. 14, 2008 |
The National Debt |
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Dec. 09, 2005 |
Budget Deficit |
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Apr. 13, 2001 |
Budget Surplus |
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Feb. 01, 1991 |
Recession's Regional Impact |
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Jan. 20, 1984 |
Federal Budget Deficit |
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Sep. 09, 1977 |
Federal Reorganization and Budget Reform |
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Nov. 24, 1972 |
Limits on Federal Spending |
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Jan. 08, 1969 |
Federal Budget Making |
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Dec. 06, 1967 |
National Debt Management |
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Aug. 01, 1962 |
Fiscal and Budget Policy |
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Nov. 27, 1957 |
National Debt Limit |
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Mar. 20, 1957 |
Spending Controls |
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Dec. 24, 1953 |
Public Debt Limit |
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Feb. 13, 1952 |
Tax and Debt Limitation |
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Nov. 30, 1949 |
Government Spending |
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Jan. 06, 1948 |
Legislative Budget-Making |
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May 23, 1944 |
The National Debt |
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Feb. 01, 1943 |
The Executive Budget and Appropriations by Congress |
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Dec. 27, 1939 |
Revision of the Federal Budget System |
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Oct. 10, 1938 |
The Outstanding Government Debt |
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Nov. 20, 1937 |
Budget Balancing vs. Pump Priming |
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May 02, 1936 |
The Deficit and the Public Debt |
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Oct. 19, 1934 |
The Federal Budget and the Public Debt |
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Feb. 10, 1933 |
Extraordinary Budgeting of Federal Finances |
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Dec. 01, 1932 |
Reduction of Federal Expenditures |
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Dec. 01, 1930 |
The National Budget System |
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Oct. 02, 1930 |
Federal Revenues and Expenditures |
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Nov. 02, 1927 |
The Public Debt and Foreign Loans |
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Nov. 15, 1926 |
Rising Cost of Government in the United States |
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Feb. 05, 1925 |
Four Years Under the Budget System |
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