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The President's News Conference

June 14, 1929

BUDGET SURPLUS

THE PRESIDENT. I have one solitary and easy question. The only inquiry that I am able to answer on this occasion is one with regard to the estimate for the present fiscal year. I find from the Director of the Budget that the estimate at the first of June indicates that we shall close the fiscal year on July 1 with a surplus of about $100 million to $110 million. Last February the estimates indicated a deficiency of about $17 million, and at that time it was thought there would be a deficit, and a considerable drive was made in the Government to defer expenditure until after the first of July. In the meantime, the income has increased beyond all of the anticipated estimates, and we have come to that very handsome result if nothing happens to us within the next 15 days.

All the other pertinent and urgent questions that you may have in your mind are being answered elsewhere--plenty of news.

WEEKEND PLANS

Q. Mr. President, can you say what your plans are for tomorrow?

THE PRESIDENT. I think I will stay here and work--not go anywhere.

Note: President Hoover's thirtieth news conference was held in the White House at 4 p.m. on Friday, June 14, 1929

Herbert Hoover, The President's News Conference Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/208194

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