U.S. defense expenses exceed $1 billion mark (8-29-41)

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The Pittsburgh Press (August 29, 1941)

DEFENSE EXPENSES EXCEED BILLION MARK

Washington, Aug. 29 (UP) –
Defense spending during August had passed a billion dollars, a new high, Treasury figures disclosed today.

Defense expenditures through Aug. 27 amounted to $1,001,446,512, bringing the total for the 1942 fiscal year, beginning July 1, to $1,941,058,086.

The figures were a source of optimism for the administration since, at the start of the fiscal year, defense spending was not expected to reach a billion-a-month rate until September or October.

Defense and non-defense expenditures thus far in the fiscal year amount to $2,994,641,599, compared with $1,446,560,784 on the same date last year.

Net receipts have been $772,722,362, compared with $739,670,227 for the same period last year.

The net deficit this year is far ahead of last year, amounting to $2,186,038,837, compared with $692,571,407 on Aug. 27, 1940.

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For a second I thought you were writing about German defense spending :wink:

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Stupid question sorry for that, but what all would qualify as defense spending? I know the basics, pay, munitions, transport and the like, but does it qualify only if it’s considered expenditures for America’s forces or also the material produced that knowingly is produced specifically for export?

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