Word: cutbacks
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...Sweden to use the fiscal tools of government spending to correct the problem. But such abstractions are not foremost in voters' minds. The real opposition to the euro is political. The fright scenario is: the European Union will eventually adopt measures to harmonize taxes, which will mean a cutback in high-tax countries like Sweden. The government will respond by cutting the budget, which will translate into slashing public-sector jobs like teachers and nurses. These jobs are held mostly by women, which helps explain female hostility to the euro. "We would give away the power over our economy," says...
Plans for a $100 billion shield to protect the U.S. against missile attacks from terrorists or rogue states like North Korea are moving full speed ahead. But budget concerns may force a sharp cutback in tests to make sure that the system works. The Pentagon plan originally called for 20 tests by 2009 to prove that a new fleet of interceptor rockets could find and destroy missiles fired toward the U.S. But a revised testing scheme to be delivered to Congress this summer--and outlined in budget documents circulating on Capitol Hill--cuts back that schedule to only nine test...
...closed-door meeting in Washington comes amid a frenzy of war preparations that has helped drive oil prices above $35 per bbl., from $20 a year ago. A one-third cutback in petroleum production by Venezuela, beset by a political crisis, has contributed to the price increase, leaving the U.S. more dependent on Middle Eastern crude. Americans are also weathering an exceptionally cold winter, which is boosting demand for heating oil. At the gas pump, the average price of regular unleaded gasoline is $1.53 per gal., up 43˘ from the price 12 months ago and 11˘ just since...
...came out strong on Harvard’s first drive of the game, completing four of five passes for 30 yards. Fitzpatrick even finished the drive himself, making a nice cutback on a 3-yard touchdown run to cap a 15-play, 66-yard march...
That doesn't necessarily leave everyone around the water cooler feeling chipper. Many employees view defined-contribution plans as just another corporate cutback dressed up as employee empowerment. To some degree, they're right. Theoretically at least, companies can--by paying a fixed amount each year instead of a percentage of ever rising premiums--better predict and control the price of health care, leaving workers to pick up the rest...