Than would be expected on the basis of theĪctual fiscal activity of the Government. Year 1951 both public and Congressional reaction was considerably earlier and greater Management, labor, farmers, and consumers, Program affects the decisions of business Of the economic impact is the way the fiscal Needs for additional tax revenues or borrowing during the next fiscal year.ĭirect effect of the expenditures, taxation,Īnd financing program. The Budget, therefore, mustīe regarded as an unusually tentative estimate of Government expenditures and of the In Government plans for both expendituresĪnd financing. Raises the possibility of substantial changes Production will be geared to meet rearmament requirements, and the course of prices Expenditures for 1948 exclude 3īillion dollar transfer to Foreign Economic Cooperation Trustįund and expenditures for 1949 and later years includeĭiplomatic developments, the pace at which NOTE.-Budget receipts and expenditures from Budget forġ952 and earlier years. On a pay-as-you-go basis, in accordance with Taxes in order to keep the defense program Under the existing taxes the budgetary deficitįor the fiscal year ending June 30, 1952, isĮxpected to rise to 16.5 billion. However, the rise in revenues will not keepįiscal year ending June 30, 1951, a Budgetĭeficit of 2.7 billion dollars is anticipated. Without further considerable tax increases, The legislation since August 1950 raising Government revenues will expand substantially as a result of higher incomes and The price level is much higher than in the
War II, as is shown in the chart, although
The level ofįederal expenditures under the current rearmament program, however, will be considerably below that reached during World To continue at a high level in the fiscal yearĪbout 75 billion dollars are expected to be It is also evident thatĮxpenditures for this purpose are expected Nearly three-fourths of theĮxpenditures in 1952 will be directly related An increase of 7 billion in the current fiscal year will be followed by a further rise of 24.4 billion in In January, provides the first over-all estimate of the fiscal program that the nation'sĮxpenditures in fiscal year 1952 are estimatedĪt 71.6 billion dollars. Group subscriptions in the United States for 10 or more copies to one address, 15 cents per copy per month, orĮnding June 30, 1952, presented to Congress $2.00 per annum or 20 cents per copy elsewhere, $2.60 per annum or 25 cents per copy. Price in the United States and its possessions, Bolivia, Canada, Chile, Colombia, Costa Rica, Cuba,ĭominican Republic, Ecuador, Guatemala, Haiti, Republic of Honduras, Mexico, Newfoundland (including Labrador), Nicaragua, Panama, Paraguay, Peru, El Salvador, Uruguay, and Venezuela is Senior Officers of Federal Reserve Banks Managing Officers of Branches.Ī copy of the Federal Reserve BULLETIN is sent to each member bank without charge. 229 for list of tables).īoard of Governors and Staff Open Market Committee and Staff Federal International Financial Statistics (See p. National Summary of Business Conditions.įinancial, Industrial, Commercial Statistics, U. Voluntary Restraint Program of American Bankers Association.ĭirectors of Federal Reserve Banks and Branches. Regulation of Real Estate Credit on Nonresidential Construction. In official statements and signed articles. This committee is responsible for interpretations and opinions expressed, except The Federal Reserve BULLETIN is issued monthly under the direction of the staff editorialĬommittee.
#JEWEL MANIA LEVEL 138 FULL#
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