The Waterbury Democrat., 1936-01-06

ent time we shall continue our si,c. cessful progress during the coming years.
 "state more concisely. we can look forward today to Q continued reduce ton of deficits, to increased tax receipts and to declining expendis lures for the needy unemployed.
 "Tho item for relief remains. Without that item the budget is In balance"
 Federal Income Estimate MT. Roosevelt estimated federal income in the next fiscal year ct 4S,004, ,000, ,000, the second largest rev. enue in American history. He esti- mated expenses for oil regular govs erninefat activities, including AAA, eco and PWA ct 96,06o, ,000, 900 plus S680, 100000 for Statutory debt retire. ment. He said he would have Q SB,. 100000 surplus "after having paid for the regular expenditures Of the government plus debt retire.
 Out of the unexpended relief and recovery balances, MT. Roosevelt OK. poets to spend si,io3, ,oo0,o00 during the next fiscal year. This sum reps resents funds already obligated or allocated out of the 1883 and i0S0 pWA and works relief appropriations but which will not Do spent until afs ter July 1 when the new fiscal year begins.
 Minimum Gross Deficlt eubtracting the e6,000,000 regular exponditures surplus from the cons teinplated 9i,103, 100000 of recovery and relief spending MT. Roosevelt arrived ct the minimum gross deficit for the next fiscal year-9i ,0oe, ,0O0,. 900. If the deficit is held to that sum 1t will be e2,l30, ,o00,000 less than the estimated gross deficit for tho current fiscal year which Will end June 30.
 Mir. Roosevelt cited the declining New Deal deficits:
 1o34-93, ,o6o, 900, 900.
 i03B-93,b75, 100000. iO30-93, ,234, ,000,0 ,000 (estimAte.
 io37--ei, ,0ee, ,000,000. (getiinAted and minus prospective additional re- lief apprcpriationg). What 10 Clear
 Therefore" he said, Tt b cleerl
 "Tirst, that since June 90, 1884 the gross deficit Of the government shows c steady decrease during tho fiscal year 1885 and io30. "eeccnd, that if work relief ape propriations by this session of the congress were made up of total Of | e2,130, ,000,000, the total gross deficit for tho fiscal year 1887 would not exceed that Of le30, which was the iewts gross deficit Of tho past three years.
 "Therefore, 1t follows that by whatever amount the appropriation for work relief ct this session iS loss than t2,l3e ,O0O, 900, the gross de- ficlt for 1o37 will Do less than the deficit for ie38 by tho same amount.
 T do not anticipate that the need l for additional relief funds will he @s great AS that sum-
 Tho current fiscal year data So- fiected improved business conditions | in forecast tax receipts which Will aggregate 94iD,O0O000 more than tho treasury expected when original estimates were compiled c year ego: Continuing the favorable picture of the icS0 fiscal year co Of today com. pared with q year ego, MT. Rooseyolb said tho New Deal had spent ee1D,. OCO,OO0 less than tho e0,b20, ,o0o, 900 which had been scheduled for diss bursemont during that poFlod. Most of the deCreago represented Q lAg Of e7so, ,00oy0 y000 in recovery and relief expenditures. Tho eEoss deficit fcr tho current 3iseei year, instead oE aggregating e4,b2o,00o,oOo as Ms' Roosevelt expected, hos ahguIlk tg Q prospective deficit cs Qa,aaa. .ooo, ,oov. '