Word: budgetable
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...forecast which is that optimistic. The IMF has a much darker view of the pace of economic recovery. Even the organization that produces the Blue Chip Economic Indicators survey, known for only talking to the most optimistic experts, has estimated economic expansion far short of those used in the Budget...
...Administration's assumptions about the rate of the recovery were probably finalized several weeks ago. It would have been impossible to balance the Budget without them. At the point when those forecasts were set, GDP contraction for the fourth quarter of last year had not been revised to 6.2%. GM (GM) had not posted its huge loss. GE (GE) had not cut its dividend. And, Citigroup (C) had not been partially taken over by the government. Some analysts might say that those were unrelated activities made by large companies in unrelated industries. However, these firms were, until recently, the largest...
...Administration has a chance to hit the "reset" button before the Congressional debate over the Budget begins in earnest. The rosy forecasts presented with the document will be powerful leverage for those who want to discredit that entire package as the work of charlatans who want to make the results of their recovery plan look better than they possibly could be. Changing the basic assumptions behind the Budget means going through the entire document, program by program, and resetting the investments and returns on the investment for each one. The $1.75 trillion deficit would grow, or some programs would have...
...Education spending, another type of government subsidy, will also get a delayed tune-up under the budget proposal. In addition to spending more on education, Obama’s budget proposes to make student loans available directly from the federal government—rather than government-sponsored private intermediaries. Considering the scandal that has riddled this $85-billion-a-year industry, it makes sense for an uninterested lender like the federal government to help out college students...
...historic magnitude of this budget is undisputed. Nationalized health care, cap-and-trade emissions regulation, an end to some agricultural subsidies, government loans, and, of course, tax hikes would have each—let alone all—been unheard of three years ago. Yet desperate times call for bold measures, and the recession demands the policy reform and funding plans of this budget...