Word: deficit
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...faces two problems and they each compound the government deficit troubles. The IRS is collected much less than the current federal budget forecasts as individual and business taxpayers experience drops in their incomes. On the spending side of the ledger, the costs of stimulating the economy and bailing out businesses from car companies to GMAC rises each week...
...fact that there is one at all should be troubling to the Treasury and the Fed. While the chances of American defaulting on any portion of its debt are small, if the recession drags on the odds that the government will have trouble raising money to finance the deficit will rise. To keep its credit rating, the American government will be faced with curtailing many of its stimulus programs or sharply raising the tax burden. Either action could slow any recovery making a burgeoning deficit a "Catch 22″ in which no alternative is acceptable...
...police response to the shooting seemed prompt and adequate, so the main shortcoming was communication. This negligence comes at a bad time for the administration. Earlier this month, when FAS Dean Michael D. Smith announced the first measures to fight FAS’s gaping budget deficit, student feedback was requested defensively and almost reluctantly, even when most of the cost-saving measures affected student life. This opacity does not inspire trust; it has not only spawned the Undergraduate Council’s grandiloquent “We Are Harvard” campaign but also fostered new rumors about further...
...seems to me to be very much in the spirit of the ‘open dialog’ the students say they are seeking,” he wrote. Smith also wrote that students are involved in the working groups that have been established to address the looming deficit of $220 million—only $77 million of which would be addressed by the cuts announced last week. The May 11 budget cuts were announced before the College’s budget working groups had the their first meeting.—Staff writer Eric P. Newcomer...
...rest of the world suffers serious economic damage," says Sanjoy Bhattacharya, a partner at Fortuna Capital, an offshore hedge fund. Tough challenges remain for India's economy, too, notes Sharma. "Just because there's been a good weekend doesn't mean you can forget all our problems of fiscal deficit and lack of infrastructure growth," he says...