Word: deficits
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...President Mark G. Yudof said the tuition increase is unfortunate: "When you have no money, you have no money." And the budget woes in Sacramento continue. California's budget analyst announced this week that the state is facing another huge deficit next year - $21 billion of red ink. (See pictures of college mascots...
Dean Michael D. Smith said he will shrink the number of professors in the Faculty of Arts and Sciences, ending a decade-long expansion in order to offset the school’s $110 million deficit...
...reminiscent of the seemingly endless wrangles in the late 1980s and early 1990s with Japan, which accounted for the bulk of the U.S. trade deficit in those days. The trade deficit with Japan never shrank much in dollar terms, but it became smaller as a share of GDP starting in the mid-1990s, and was eclipsed by the trade imbalance with China in 2000 (in September the U.S. trade deficit with Japan was $4.1 billion, compared to $22.1 billion with China). The issue was never resolved, but it ceased to seem so important. Could that happen with China...
Probably not. There are two crucial differences. One is that much of today's U.S. trade deficit comes from U.S.-based corporations selling products at home that were partly or entirely made in China. As a result, the trade relationship with China has become far more ingrained in the economic fabric of the U.S. than that with Japan ever was. Some evidence: in the first nine months of 2009, the global economic slowdown cut the U.S. deficit with Japan 47% compared with the first nine months of 2008. The deficit with China dropped just...
...While we were not completely happy with the result, we did climb back from a 3-1 deficit, so that was a positive step forward,” Rogers said. “It proved to everyone that we have the ability to come back in games...