Word: budgeteering
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Still, President Franklin Roosevelt - who rode into office on a platform of deficit reduction - initially hedged his bets, taking stabs at public-works projects and farm subsidies while also rolling out balanced-budget initiatives. When a British economist visited the White House in 1934 saying deficit spending was the best engine to boost consumer demand and create jobs, Roosevelt balked. (Two years later, the economist - John Maynard Keynes - published that advice in his seminal work, The General Theory of Employment, Interest and Money, which revolutionized economic thought by debunking the widely held belief that the market naturally tends toward full...
Harvard’s endowment—which funded 38 percent of the University’s operating budget in 2009—fell from $37 billion to $26 billion this past year. Harvard and its peer institutions have been criticized for their investment strategies, which rely heavily on hedge funds, private equity firms, and illiquid assets...
Harvard Business School professor and Nobel Laureate Robert C. Merton said that some risk is necessary to ensure that the University can make a large enough return on its investments to support its operating budget. He said that he had not previously heard Bacow’s comments but added that “the right strategy for the endowment of any institution cannot be found in the abstract...
Turns out that bus travel, at least in the Northeast and Midwest, has become a hip, and hiply budget-conscious, mode of transport. Book early enough on some of the sleek new lines, and you can travel from city to city for as little as $1. And forget the images of desolate bus depots; the post-Greyhound generation of buses often pick up passengers at convenient curbside locations. A bunch of coach lines now compete for fare-surfing customers on BusJunction.com by touting such amenities as power outlets and free wi-fi. Some even show movies...
...Though budget cuts have affected the ten coordinators’ term-time wages, Banks says the program will continue to pay for students’ transportation home for the spring break recruiting...