Word: budgetable
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According to the most recent figures, Harvard’s endowment fell by 22 percent this year, which is forcing it to make large cuts in its budget. In recent months, the university has instituted numerous measures to tighten its budget, including a hiring freeze and a slowdown of its construction projects in Allston. It is clear from cuts such as these that Harvard needs to decrease costs across the board. As an educational institution, Harvard’s first priority is to maintain its academic standards through the recession as much as possible. This means that some workers...
...find new jobs, and those who will be unemployed as a result of the layoffs may further burden the city’s homeless shelters and food-assistance programs. Since Harvard has a stake in the community, it should be mindful of these effects when it decides on what budget cuts to make. But Harvard is still one of the largest employers in the state, and, even in spite of necessary layoffs, it will continue to provide economic benefits for Cambridge...
...have already been laid off, as some have suggested, this might induce Harvard to scale back some of its layoffs. Harvard is under no obligation to keep employees it does not need, however, and it should accept such a package only if it will not work against the budget cuts Harvard is trying to make...
Significant belt-tightening measures are in store for Massachusetts State leaders looking to close a widening projected $6 million budget deficit for the next fiscal year in light of the economic recession, according to state lawmakers. State Representative Charles Murphy and Secretary of Administration and Finance Leslie Kirwan stressed the need for budget cuts and budgetary redistribution, particularly in the health care sector, to ease economic strain in a panel discussion at the Kennedy School of Government last night. The panel also included Kennedy School Senior Associate Dean and Lecturer in Public Policy Peter B. Zimmerman. Murphy and Kirwan...
...past 10 years. To put some heft back into the economy, the IMF has recommended an injection of demand equivalent to 2% of world output. The U.S. has taken the lead on a stimulus package, but some European nations - which tend to be wary of long-term national budget deficits - have balked at the size of the new resources required...