Salt Lake Telegram | 1932-06-02 | Page 7 | National Deficit over Two Billion

NATIONAL DEFICIT I OVER TWO BILLION BI lION WASHINGTON June 2 UP The UP-The The Thc federal government entered the last month of the present fiscal year with witha a deficit of the treasury announced today in its daily statement for May 31 The present deficit compares with 10 on the corresponding date last year and a deficiency deficiency deficiency de de- de- de for the entire fiscal year of 1931 In the present fiscal year more money has been spent by the government government government govern govern- ment than during the past fiscal year despite sharp reductions In revenue The outstanding public debt on May 31 was 1903 as compared compared compared com com- pared with on the same date a year ago The public debt reached its peak on August 31 1931 when it stood at 26 The debt on March 31 1917 amounted to only