Word: deficit
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...task force has made it clear that GM can't afford the renegotiated wage-and-benefits package the UAW agreed to in 2007. Even using GM's best-case scenario, the company projected a negative net cash flow of $14.5 billion over the next six years. Most of that deficit can be accounted for in retiree health and pension benefits - which means that one way or another, the hundreds of thousands of UAW retirees are probably going to get a lot less health coverage. The outlines of a plan are likely to be drawn up by Bloom, a pioneer...
...disagree with Gingrich's article. in President Barack Obama's two months in office, Gingrich says, he "has so far failed to turn around the economic decline." It took the Republicans eight years to get us into this mess with their nonexistent oversight and their allowing the deficit to balloon to $10 trillion. All Gingrich can offer as an answer is Contract with America 2.0 - which consists mostly of tax cuts. It's the old trickle-down economics with a fresh paint job. I'd much rather have tax-and-spend Democrats than borrow-and-spend Republicans. David Ingram...
...state wouldn't approve, which cost the city a one-time federal grant worth $354 million. Combined with sharp budget cutbacks, that leaves the transit authority with a $1.2 billion deficit. Without a healthy subway system, New York will be hard-pressed to grow, green or otherwise. "We have to assume that [transit] will eventually be funded," says Agarwalla. "Otherwise we'd have to plan for citywide shrinkage...
...Largely left out, however, is the vital role that trade balances played in igniting the crisis in the first place. Since the late 1990s, the U.S. has been spending far more than it has earned, sending huge sums of capital overseas, a dynamic measured as the current account deficit. This "giant pool of money," as the radio program This American Life described it, did not stay in low-spending surplus countries like China or oil-producing states. Instead, much of it came back to the U.S. in the form of cheap credit. "Like water seeking its level, saving flowed from...
...raised directly by either man, according to a senior U.S. Administration official, the joint statement released by the two nations said both countries want to deal with the underlying causes. "[Obama] underscored that once recovery is firmly established, the United States will act to cut the U.S. fiscal deficit in half and bring the deficit down to a level that is sustainable," the statement reads. "President Hu emphasized China's commitment to strengthen and improve macroeconomic control and expand domestic demand, particularly consumer demand, to ensure sustainable growth and ensure steady and relatively fast economic development...