Archive Report
Archive Report
Relief Expendtures and the Federal Budget Deficit
In his message to congress on January 7, 1935, submitting the federal budget for the fiscal year 1936, President Roosevelt pointed out that the estimates for that year indicated that receipts would balance all expenditures except those made for the purpose of giving work to the unemployed.
If this budget receives the approval of the Congress [he said], the country will henceforth have the assurance that, with the single exception of this item, every current expenditure of whatever nature will be fully covered by our estimates of current receipts. Such deficit, as occurs will be due solely to this cause, and it may be expected to decline as rapidly as private industry is able to re-employ those who now ...