Word: budgeter
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Republican Congressman Paul Ryan recently received an unexpected olive branch, in a most unexpected setting. During a public sparring session with House Republicans in Baltimore on Jan. 29, President Obama singled out the Janesville, Wis., native, who has put forth a controversial plan to balance the federal budget with a sweeping overhaul of Medicare and Social Security, which together with defense spending comprise 55% of the government's total outlays. Obama called Ryan's "Roadmap for America's Future" a "serious proposal" and praised its author as a "pretty sincere guy" with a "beautiful family." It was a rare moment...
Just days later, Obama's budget director, Peter Orszag, shined the spotlight on Ryan again - this time to expose what Democrats perceive as the plan's many warts. Among the elements of his proposal, Ryan wants to privatize Social Security by establishing opt-in individual accounts funded partly by payroll taxes. He also wants to raise the eligibility age for Medicare benefits for Americans currently under 55 and scrap the current system for one in which vouchers would be used to purchase private insurance. While the Congressional Budget Office upheld Ryan's contention that the plan would ultimately bring...
...Dartmouth also said that it would increase its financial aid budget by 10 percent next year and noted that its tuition waiver and no-loan expectation will remain in effect for families who make under $75,000 a year...
...That entire country has no sense of responsibility, and now we're supposed to fix it," says Karen Schumann, 27, a Berlin media consultant. The complaint has a familiar ring to it. Greece has a staggering budget deficit of 12.7% of GDP and a $410 billion public debt, which free-spending Greek officials long kept secret from the rest of the euro zone. Now that Greece is on the verge of defaulting, its monetary partners will have to hand over huge loans to help keep the country solvent - all in order to prevent the euro from going into a free...
...indeed get even worse. At a summit in Brussels on Feb. 11, European leaders pledged to help Greece deal with its crushing debt while Athens said it would slash its budget deficit to 3% by 2012 - but the leaders produced few details on how exactly they would help. (Read "E.U. Comes to Greece's Rescue, with Strings...