Carbon County news., 1936-09-11
Per Capita DEBT
Grows 10 S263
+ II NH
Seventh Successive Year
of Deficits; Spending
Increases.

it's seventh successive year of huge
deficits. Expenditures for the pres
ent fiscal year 1887 probably viii
be more than nine billions of dol
lars. This will bring total expendi
lures under four Roosevelt years tc
more than thirty-two billions, as
against receipts of sixteen billions
from taxes.
BY borrowing to make up the diff
ference between income and spend
ing the Roosevelt Administration
increased the public debt more
than eleven billions in its first three
fiscal years. The debt on June 30.
1896, was $33, 778, 543, ,494 and it may
reach thirty-seven billions by June
80, 1887.
The Per Capita Debt.
The per capita debt burden has
increased enormously during the
past generation. Just prior to the
World War the burden due to the
debt of the Federal Government
was equal to only about $12 for
each man, woman and child in the
United States. The per capita Fed
eral debt rose to about $240 at the
end of the World war and declined
to about $l31 by the beginning of
the depression.
At the beginning of the first full
fiscal year of the Roosevelt admin
istration the per capita debt was
about $780, At the conclusion OF
three years of the Roosevelt adj
ministration this burden, applicable
to every man, woman and child
in the country, had advanced to
approximately $263 each. And dur
ing the present fiscal year it may
go to almost $500 each. In other
words the New Deal will have cost
in four years each of our people
individually the sum of $120. Null
tiply this by 4.8 representing the
average number of persons per
family, and the result is an in
crease of $576 per family in the
Federal debt as a result of the
Roosevelt administration.
Summary of Situation.
Following are some briefly stated
facts about the Federal budget situ-
alton:
Expenditures in. the four years
for which the New Deal is re-
sponsible (June 80, 1888 to June 30,
1880 will exceed by at least q per
cent the direct cost to the United
States in carrying on its OPP
erations in the World war.
Expenditures in the four years
will be at least 80 per cent more
than the total cost of the Govern
ment from 1889 to 1918, period of
124 years.
For the entire four years ex-
will be at an average
rate of about So for every 81 in re-
ceipts.
Aggregate deficits of the four
years will be about equal to the
total public debt at the beginning
of the depression.
The public debt at the end of
three full fiscal years of the New
Deal was 80 per cent above the
peak of the World War debt and
81 per cent greater than at the
beginning of the Roosevelt admin
istration.
Expenditures in the fiscal year
1886 far exceed those of any other
peace-time year.
Expenditures in the fiscal year
1897 may be greater than in 1886
even though the bonus item helped
to make the total of the fiscal year
1886 abnorma1ly large.
Emergency as well as general
expenditures have continued to in
crease, although Mr.. Roosevelt
says the emergency has passed,
and although business improve
ment has been in progress.
Deficit in 1888?
If New Deal policies prevail, fur
her large appropriations for emer-
gency purposes and another large
deficit appear inevitable in 1888.
Instead of the reduction Of IS per
cent in Government expenditures
pledged by the 1882 Democratic
platform the average of more than
S8, ,000, ,000, 900 for each of the four
years of the New Deal represents
an increase of approximately 100
per cent over the normal total prior
10 the depression.
Expenditures of more than $32,-
200, ,000, 900 in four years as against
receipts of only about $4,000, ,O00,-
100 means that the New Deal pays
out So for every 81 taken in.
The New Deal while pretending
10 the people that it is financing its
by ''soaking-the-rich"
1as actually shifted a greater part
If the tax burden to miscellaneous
;axes-many Of them concealed
which are paid by the general con-