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About Oregon daily emerald. (Eugene, Or.) 1920-2012 | View Entire Issue (Sept. 24, 1991)
Federal deficit nears record high WASHINGTON (AH) The feder al budget dcflcll ball o o n « d t o $200.0 billion through August, the government said Monday, virtually ensuring a new fiscail year record by the end of Sep tember "It fits with a yearly deficit of between $200 billion and S2(i5 iiillion,” s.iid economist Marl lyn St huja of Donaldson. Luf kin A Jenretle Securities (k)rp in New York If so, that would top the previous record of $2211 billion set in 1W86. The Hush administration prt> jccls the fiscal 1001 shortfall will be S2H2 2 billion, rising to SIMM I billion in the fiscal year ending Sept to The Congres sional budget Office contends the deficit will total $279 0 hi I lion this year and $102.0 till lion next year The Treasury Department said the deficit rose $42.7 bil lion in August, 10.1 percent less than the shortfall in the same month of 1000 For the year, however, the imbalam e w as It 2 peri cut larg er than the S2 11 2 billion short fall in the first 1 I months of last year Although the gap between spending and revenues after the first 11 months of 10‘M) topped the 1980 record, the deficit dropped the next month to ( lose fist al 1990 with a $220 4 billion gap About $25 billion of the Au gust 10<)0 imbalance had re flected a shift of payments nor mally made in September, such ,is military pay and Social Se curity chucks, to the previous month to avoid Labor Day weekend delays That amount thus was not included in the September expenditures Government operations In past Septemliers often resulted m a surplus However, Schaja said a slight pick up in spend ing for the sa v i ngs-and - loan bailout might produce "a little bit of a deficit " this year. Revenues so far this year to taled Sui t >) billion, up 1 H per cent from the same period of 1990. Hut spending jumped d. 1 percent, lo si.2 trillion, over the first 11 months of last year The Bush administration projects the fiscal 1991 deficit will be $282.2 billion, rising to $348.3 billion in the fiscal year ending Sept. 30. If so, that would top the previous record of $221.1 billion set in 1986. For the month, revenues to taled ,$7ti •! billion, up 5.7 per cent from August loot) Receipts included SI d bil lion in contributions from al lied nations to help pay for Gulf Wnr expenses, down from 52 2 billion in July. So far this year. contributions have totaled 542.4 billion Ivxpendltures amounted to $119.1 billion, 9 2 percent less than the same month last year Spending included St 2 bil lion by the Resolution Trust Corp. for the thrift bail out. down from $9 2 billion in July KTG spending during the first 11 months of the veur totaled s:i() H billion, compared to $37.8 billion during the same period of last year The August deficit was SI 9 billion more than the $40.H bil lion gap that was posted in July. As usual, the biggest spend ing i allegories were the military and the Social Set urtty and other programs of the Depart ment of Health and Human Ser vices, along with interest on the national debt Military spending totaled $27 1 billion in August and 5240 '• billion so far this year It is projected to total S2‘ 1 f> 7 bil lion for the entire fiscal year Social Security payments amounted to 522 t> billion lot the month and 5243 H billion for the year They are projected to total S2() I H billion for the year Other department payments, including Medicare and Medi caid. totaled 520 7 billion in August and $200 7 billion for fiscal 1901 so far They are pro jected to total $222 4 billion Interest on the national debt amounted to $19.1 billion for the month and $2t>8 3 billion so lar this year It is projected to total $2Ht> 3 billion lor the entire year Growers protest USDA rules limiting size of fruit WASHINGTON (AP) California growers unhappy with federal marketing regulations distributed boxes of small and illegal" nectarines on Monday to President Bush. Agricul ture Secretary Fdwnrd Mndigan and congrossion.il officials Although the nectarines taste as good as any at the grocery store, the box they were delivered in warned that it contained an "illegal substance." The disgruntled producers complain that current marketing orders unfairly keep smaller fruit off retail shelves at great cost to them and higher prices for con sumers "it's hard to believe, hut the fruit in this box cannot he sold legally and must he destroyed because the USDA says it is ton small.” the lalxd said "Obviously, it is small fruit. But what right does the federal government have to tell farmers what si/e fruit they (am sell?" Monday's protest was organized by the Farmers Alliance for Improved Regulation, which represents about one-third of the peach and nectarine growers in California. II comes on the eve of hearings in Visalia, Calif., on whether the peach and nectarine marketing orders should t>e abolished or re placed with a state program. Jim Moody, an attorney for FAIR, said the California mar keting orders were originally designed to ensure a stable mar ket for California's fruit growers but have since lieen corrupt ed by "the big boys." He accused the Agriculture Department of looking the oth er way as industry insiders develop rules on a fruit's siz.e and maturity that ensures they capture the market and smaller growers are squeezed out. But Dan Haley, administrator of USDA's Agricultural Mar keting Service, said he’s heard that "old. tired accusation" for years "And every time we've looked into it we come up empty " Moody said regulations that govern the siz.e of fruit that i an he shipped have forced many growers to produce a larger crop Ix-eause they know that a share of their harvest may not meet the marketing order criteria. "And therein lies the tragedy,” Moody said " I here s noth ing wrong with a fruit that's a little smaller, maybe a little sweeter and u little Ixitter Some consumers actually jirefer a smaller fru it" FAIR also contends that smaller fruit is more affordable, and that while USDA tells consumers to eat more fresh fruit, its regulations require the destruction of thousands of tons ol fruit At issue are marketing orders just lor California nectarines and peat lies Haley suid he called for this week's hearings on the orders after producers narrowly voted to keep the system in place. gambun artist oils ^32% GRUMBACHER ■^smouGH BRUSHES ^ cGdRJJM8ACHER ^WSAKURAKC WATERCOLORS 'nd/vioua, COtOft * 111 coion s LfQUITEX ' acrylics CANVASX stretcher bars * K'1 N DftlEDPIWF Wiv/ WlNSOR & heWTOi . COTMAN *atercolorpads W wifi PRO ART acrylic GESSO unprimed ROLLED canvas jTH& KINCAID 316-4331