U.S. National Debt Increases by $500,000,000 (1931)

Today (2011), newspapers are carrying stories about the enormous increase in the American national debt. It’s a perennial story.  This article from the 3 June 1931 issue of the Milwaukee Journal reports the alarming news that the national debt will have increased by $500,000,000 at the end of the fiscal year 1930-1931.

President Hoover was proud to have reduced expenditures by $180,000,000 the previous summer.