Word: budgeteering
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...tackling the tricky problem of predicting what will happen in 2011 by doing what they always do: predict the economy will do about average. The problem is that what economists have come to believe is average growth for the U.S. economy in recent years has been falling. The Congressional Budget Office recently said it expects that the U.S. economy will grow on average about 2.2% a year. That's down from a trend expectation of about 3% just a few years ago. "The economy will feel better in 2011," says Wyss. "But that doesn't mean it will feel good...
...probably not be living in walk-throughs during their time at Harvard. The College administration renewed its commitment to start its 15-year project to renovate the upperclassman houses by 2012 this week. While seemingly everything else at this university is suffering from cutbacks as a result of the budget hardships brought about by the financial crisis, it’s encouraging to see that this project will continue on schedule...
Part of last spring’s budget plan had called for the hiring of fewer teaching assistants—section leaders who are otherwise unaffiliated with Harvard, as opposed to teaching fellows. Average section sizes were expected to creep upwards, closer to a long-standing target of 18 students, which, according to McCarty, is frequently undershot...
...Plans have been afoot to improve sanitation and also relieve the population burden in metro Manila by shifting certain businesses and government offices to areas outside the dense capital region. But the challenge facing the Philippines and other poor Asian countries is one of resources. Most Southeast Asia nations budget around 2% or 3% of their GDP for infrastructure development. To fend off such disasters in the future, Jain says that figure ought to be closer to 5% or 6%. It's a deficit that few governments can afford to make up overnight...
...biggest economy contract by 5% in 2009. While Germany's economy grew 0.3% in the second quarter of this year, it will still be a slow climb out of recession. Unemployment is set to rise next year once government subsidized short-term labor contracts are phased out. The budget deficit is expected to pass 6% of GDP in 2010, thanks mostly to a dip in tax revenues. Some economists say the center-right government will be penned in. "There's no room for maneuver on tax cuts," says Professor Henrik Enderlein, from Berlin's Hertie School of Governance...