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Show oo U. S. DEFICIT $425100,000 WASHINGTON July 11 The government gov-ernment faces a net deficit of 1426.-000,000 1426.-000,000 for the current fiscal year, President Hardin today informed the second annual business meeting of federal xeeuti es. Receipts for th year, the president said. In addressing the mooting were estimated at $3, 074. 000, 000 and expenditures at ?3 7 7 1 .000,000, leaving an apparent excess of expenditures amounting tu ?637,000.fto reduced, however, by th genera balance of $272,000,000 m the treasury on June 30 The president suld the piospeetlvo deficit was "u challenge to us all," adding add-ing that there must be utmoM economy" econ-omy" but recalling that the ast year's experience has demonstrated thai ive need not be unduly concerned over such prospective deficits when we have the bonefit of tbc budget organization or-ganization and of our co-operation " |