Big Backlog of Cash for U S Projects
A Washington report notes a large pool of unspent federal funds across defense and other departments, with $153 billion available this year but only about $90 billion likely to be spent by year end. The Defense Department holds about $110 billion including carryovers, while production limits slow outlays. Orders for vehicles, planes, tanks, ships, and guns loom, though spending will extend into the next year. The piece also mentions the first telegraph line across the United States completed in 1861.