FISCAL: Seventh Deficit

The adding machines of the Treasury Department last week celebrated the Federal fiscal New Year's day by doing a simple subtraction:

Spent $8,001

Received 5,294

In the hole $2,707

Such was the net result (in millions of dollars) of the U. S. Government's operations for fiscal 1937. Each of the three figures in this calculation was a news item in itself:

Spending. The expenditure of $8,001,000,000 was more than twice the size of pre-Depression Government spending. It was, however, smaller than the $8,477,000,000 spent in fiscal 1936 and showed the first downtrend in...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!