Evening star., 1936-09-02
ROOSEVELT PUTS
CURRENT DEFICIT
AT $2,097,0()0,00O
Relief Drain May Require
$500, 900, 900 More, Says
Revised Estimate.
s5,665, ,S39, 900 RECEIPTS
OVERSHADOW A.A.A. LOSS
Net Increase Of $4,000 900 Seen
Above First Forecast-Debt
Rise Set at $4l0, 100000.
By the Associated Press.

By the Associated Press.
Predicting a new peak in the Gov
ernment's peace-time income. Presi-
dent Roosevelt's revised budget sum-
mary today forecast q $2,097, 900, 900
deficit for the current fiscal year.
This figure, fixed in a recheck of
earlier budget estimates late yester-
day, compared with $4,764,000, 600
last year. $3,575, 900, 900 In 1885 and
s., ,989, 900 900 in 1884.
The Presidents relief estimates had
both favorable and unfavorable as
poets. Although saying unemployed
are steadily being absorbed into in
dustry, he balanced this with asser-
tions that substantial expenditures
would be necessary for drought re-
lief and that it will be several months
before 1t can be determined whether
work relief rolls can be cut sum-
GENTLY to bring them within the linn
its Of present available funds.
Even should additional appropria-
tions be found necessary, however.
Mr.. Roosevelt said these would total
less than $500 100000
A. A. A. Tax Loss Overcome.
Estimating receipts at $5,665, 1886, 900
for the year ending next June 80, the
Chief Executive pointed out this was
q net increase Of $4,000, 900 over his
original budget estimate last January
despite $66s, 100000 of unexpected
in dA
ton Of special taxes under the agri-
cultural adjustment act and other
causes.
Another factor which developed
after preparation Of the original es-
timate-passage of the bonus-also
was important in boosting Mr.. Roose-
velt's previous forecast Of $l,098,-
400 900 deficit.
Eliminating $3.50, ,o0o. 900 of statutory
debt retirement from the gross deficit
to arrive at q net figure Of $l,517,-
900 900. Mr.. Roosevelt said the public
debt would not be increased by that
amount because the Treasury's work
ing balance in the general fund would
be reduced by $l.100, zoo, 900. This
balance on August 20 was $l,451,-
$4,000.
Mr.. Roosevelt estimated the net IN
crease In the national debt this year
at $410, ,000, 900, bringing it to $34.-
l8S, S,543. .494 on next June 30.
$3.50, 900 New Borrowing.
After record peace time financial op-
erations during the last fiscal year to
raise funds for the soldiers bonus
and relief needs, the summary yes
terday disclosed that new borrowing
Of $3.50, 0,000,0 900 Is contemplated this
year. This was exclusive Of refunding
issues and statutory debt retirement.
The revised summary brought q
quick attack from Representative Boil
ton Of Ohio. chairman Of the Repub-
lican Congressional Campaign Com
mittee, who said:
I'VE have had budgets and revised
budgets every year under the New
Deal. But We have never had q solid,
complete and faithful advance state
ment Of Federal finances or Federal
nScal policy.
He said the summary indicated re-
payments on loans would 60 for con-
tinued New Deal squandering" rather
than for retirement of the national
debt.
THE Nation will not be deceived, /"
he added. "by such political operations
in the Treasury Of the United States. "
In estimating receipts for the cur
rent year, Mr.. Roosevelt said an in
crease of $410,000, 900 was expected
from the revenue act of 1896, includ-
ing $S2 ,000, 900 of homecoming rev.
enue from the "windfalT" levy on
(See BUDGET. Page A-6)