Word: expected
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Dates: during 2000-2009
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That may sound like a cop-out. At least until you consider how many other economic forecasters got it wrong. Dozens of states have found themselves with budget shortfalls, some quite massive, partly because economists weren't ratcheting down expectations of tax revenue nearly fast enough. In late November, the Federal Reserve Bank of Philadelphia's Survey of Professional Forecasters indicated GDP would decline at an annual pace of 1.1% for the first three months of 2009. The economy proceeded to shrink at a pace of 5.5%. (See what to expect when the recession ends...
Ryan Travia, director of OAODS, said that he could not share information on how much money is being saved through the hours reductions. But he said student traffic is certainly "considerably lower" during the summer months than during the academic year, and that he did not expect the week-long furlough for the office to cause any disruptions for students or internal operations. He said that during the slow summer months, his office typically reviews research and data collected over the course of the year, writes reports, reviews policy and procedures, and prepares for the incoming freshmen...
...President's financial reforms, which were sent to Congress earlier this summer, have yet to be acted upon by the banking committees in the House and Senate, and White House officials do not expect concrete legislative action until late this year at the earliest. That means that both the White House and Congress can expect many more months of needing to explain why it is O.K. for Wall Street to be thriving while the rest of the country, and much of the world, is suffering. As Gibbs explained on July 15, when asked about the big Wall Street paydays...
Supreme Court confirmation hearings are often dismissed as a kind of ritualized theater that reveals little about the judicial philosophy of nominees. But this stereotype is frequently wrong. From David Souter to John Roberts, many nominees have tended to reveal more of themselves than they expect...
...perks up; he has never heard it either. Later, at a nearby Sekapan longhouse, 35-year-old Stephen George proudly shows me an ironwood dugout that can fit 93 rowers. But he only reluctantly shows me his favorite tattoo - a Chinese dragon on an inner thigh, where you'd expect an ancient tribal design...