Word: budgeter
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Dates: during 2000-2009
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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...
Members of the Classics Department also said they were worried about the department’s shrinking budget for repairing the books within its collection. When pages become loose or a binding breaks, the department is no longer able to guarantee that the book will be fixed...
Thomas said that the Library Task Force review follows several years of declining library resources. Last year, for example, the library faced a 15 percent budget cut, and the system’s largest unit—Harvard College Library—eliminated over 20 staff positions. HCL also eliminated duplicate print subscriptions for digitally available content...