Word: deficits
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...Obama is insecure enough about the size of the deficit and presumably about falling receipts at the IRS caused by the poor economy that he recently identified 121 cuts in government spending programs which would save $17 billion. The most important unnecessary program that the Administration has discovered is the $6 million spent on The National Institute of Literacy. Also near the top of the list is $35 million for a long-range radio navigation system...
...Sanford was once a lonely voice for fiscal restraint in Congress, one of the few Republican revolutionaries of 1994 who kept faith with the Contract with America. Back then, his bumper stickers said "Deficit" with a Ghostbusters-style slash through it, and his apocalyptic speeches chronicled how debt had destroyed great civilizations like the Byzantine Empire. I watched him give an updated version at a tea-party rally in Columbia, S.C., on April 15 as the crowd screamed about Obama's tyranny and waved signs like "Keep the Government Out of Our Health Care" and "USA 1776-2009, RIP." Sanford...
...waterboarding produces terrific ratings for Rush Limbaugh, but it's not a majority agenda. The party's new, Hooverish focus on austerity on the brink of another depression does not seem to fit the national mood, and it's shamelessly hypocritical, given the party's recent history of massive deficit spending on pork, war and prescription drugs in good times, not to mention its continuing support for deficit-exploding tax cuts in bad times...
...Faculty of Arts and Sciences faces a massive $220 million deficit for next year. In order to address this gap, Dean Michael Smith has announced a restructuring of FAS. With every change, there will inevitably be a constituency that objects, but Harvard should emphasize an ethos of shared sacrifice as we weather this process. The deans, along with the Harvard Corporation, should conduct a transparent process to address the deficit in such a way that harnesses the wealth of intelligence and creativity on campus and assures us that all voices are heard...
...should not be afraid of using this capital to sustain itself during the current recession. Perhaps the deans and the Corporation should release more endowment money to schools like FAS in order to ensure that budget cuts can be made without layoffs. Right now, the FAS budget deficit of $220 million comes directly from an eight percent decrease in endowment money being funneled into FAS. Although it would be unsustainable over the long term, Harvard could dip further into its endowment over the next year or two in hopes that the economy will begin to grow again...