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The .45-70 (11.6x53mmR), also known as the .45-70 Government, .45-70 Springfield, and .45-2 1 ⁄ 10" Sharps, is a .45 caliber rifle cartridge originally holding 70 grains of black powder that was developed at the U.S. Army's Springfield Armory for use in the Springfield Model 1873.
The 1944 Surplus Property Act provided for the disposal of surplus government property. To deal with these disposals, numerous short-lived agencies were formed, such as the Surplus War Property Administration in the Office of War Mobilization (February – October 1944); the Surplus Property Board in the Office of War Mobilization and Reconversion (October 1944 – September 1945); and the ...
An example of the different treatment under cash and accrual accounting of a government's purchase of a building: Under cash accounting: The government's budget surplus decreases (or deficit increases) by the amount of cash used (or debt incurred) to acquire the building in the year the government takes ownership. After the year of acquisition ...
The ratio of debt to GDP may decrease as a result of a government surplus or via growth of GDP and inflation. The Congressional Budget Office (CBO) estimated in February 2024 that Federal debt held by the public is projected to rise from 99 percent of GDP in 2024 to 116 percent in 2034, and would continue to grow if current laws generally ...
Surplus Property Act of 1944 (ch. 479, 58 Stat. 765, 50A U.S.C. § 1611 et seq., enacted October 3, 1944) is an act of the United States Congress that was enacted to provide for the disposal of surplus government property to "a State, political subdivision of a State, or tax-supported organization".
For a government that uses accrual accounting (rather than cash accounting) the budget balance is calculated using only spending on current operations, with expenditure on new capital assets excluded. [2]: 114–116 A positive balance is called a government budget surplus, and a negative balance is a government budget deficit.
The War Assets Administration (WAA) was created to dispose of United States government-owned surplus material and property from World War II. The WAA was established in the Office for Emergency Management, effective March 25, 1946, by Executive Order 9689, January 31, 1946. It was headed by Robert McGowan Littlejohn.
The Federal Surplus Commodities Corporation was one of the so-called alphabet agencies set up in the United States during the 1930s as part of President Franklin D. Roosevelt's New Deal. Created in 1933 as the Federal Surplus Relief Corporation , its name was changed by charter amendment on November 18, 1935.
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