Word: crunch
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...July 20, the Golden State finally cobbled together a plan to bridge its $26.3 billion budget gap, leaving North Carolina, Connecticut and Pennsylvania as the only states that have not yet reached an agreement. But before lawmakers start slapping backs, they should know that next year's budget crunch could be even tighter. Thanks to dwindling revenues, paltry collection rates and the economic storm soaking taxpayers, the $142.6 billion budget shortfall that states faced during the 2009 fiscal year is but one hurdle in a longer financial gauntlet, according to this bleak assessment from the National Conference of State Legislatures...
...though, Vulcano's manufacturer is hoping that when it comes to the crunch, the chocolate's future will be sweet...
...their purchasing power. "Kids today have grown up with consumerist expectations and feel frustrated when they can't maintain them," says Alberto Saco, sociologist at the University of Vigo. "But more frustrating is what is happening to their expectations about work and housing." (Read: "Ireland's Economy: Celtic Crunch Time...
...retraining. Many of these two-year schools, which get about 30 cents for every dollar of per-student funding the Federal Government awards to four-year institutions, have had to let go of faculty or effectively cap enrollment. (See how colleges are bracing for a financial-aid crunch...
...abated. The People's Daily newspaper reported in late June that SMEs have received less than 5% of the total volume of loans. That's not just a problem for private business owners. Because their firms do a better job of creating employment than state-owned enterprises, the credit crunch creates headaches for policymakers trying to limit unemployment during the economic downturn. (See pictures of China doing business in Africa...