. Annual report of the Secretary of the Treasury on the state of the finances for the year ... 1953 54 55 56 57 58 59 60 - Fiscal Years Although there was a surplus of receipts over expenditures of $ in 1960, the total public debt increased by $ billion dm*ingthe year primarily because of an increase of $ billion in the balanceof the Treasm-er of the United States above the level at the end of1959. As of June 30, 1960, the total pubHc debt outstanding 6 I960 REPORT OF THE SECRETARY OF THE TREASURY amounted to $ billion compared with $ billion as of June30, 1959. The G
. Annual report of the Secretary of the Treasury on the state of the finances for the year ... 1953 54 55 56 57 58 59 60 - Fiscal Years Although there was a surplus of receipts over expenditures of $ in 1960, the total public debt increased by $ billion dm*ingthe year primarily because of an increase of $ billion in the balanceof the Treasm-er of the United States above the level at the end of1959. As of June 30, 1960, the total pubHc debt outstanding 6 I960 REPORT OF THE SECRETARY OF THE TREASURY amounted to $ billion compared with $ billion as of June30, 1959. The Governments fiscal operations in 1959-60 and theireffect on the public debt are summarized as foUows:. Budget results: Net receipts Net expenditures Budget defloit, or surplus (—) Plus: Trust account and other transactions, excess of expenditures, or receipts (-)2 Change in Treasurers balance: Increase, or decrease (—) Total Ecjuals: Public debt increase 1 Revised to exclude certain interfund transactions. 2 Includes net trust account transactions, etc.; net investments by Govenuuent agencies in public debtsecurities; net sales or redemptions of obligations of Government agencies in the market; changes in clearingand other accounts necessary to reconcile to Treasury cash; and changes in amount of cash held outside theTreasury. Because the Governments expenditures are spread somewhat evenlyduring the fiscal year while tax receipts are not, the Treasury is re-quhed to provide some intermi financing even in periods when theGovernments expenditures in the fiscal year are in balance or resultin a surplus. Receipts from corporation income taxes and from in-dividual income taxes not withh
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Keywords: ., bookcentu, bookdecade1870, booksubjectfinancepublic, bookyear1876
