Word: fiscal
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...backdrop of recession or economic stagnation, painful spending cuts would be extremely difficult for any government to sell to voters," he says, questioning whether such reductions would even succeed. "Drastic cuts in spending or [raising] tax risks deepening the recession, which would in itself prevent an improvement in the fiscal position...
...Facing such a woeful economic outlook, E.U. monetary-affairs commissioner Joaquin Almunia has struggled to make the case for fiscal rectitude. He insists the pact is flexible enough to allow short-term stimulus programs. "During the recession, the pact is not about sanctions," he said last week. "But in the medium term, we need to continue a process of consolidation of the public finances. The rules were established for everybody and must be respected...
...University will be able to resume its aggressive international expansion efforts, but Harvard’s vision for an established international expansion efforts, but Harvard’s vision for an established presence may only be deferred, as the University grapples with a projected endowment decline for the next fiscal year...
...said staff could be put to better use by focusing on the more unpredictable, uncommon serials. The cost reduction measures come after Faculty of Arts and Sciences Dean Michael D. Smith’s December request for 10 to 15 percent reductions in department and center budgets for the fiscal year beginning in July. In a recent State of the Library meeting, HCL head administrator Nancy M. Cline said that it would be hard to slash budgets through large-scale cuts of either fixed costs or personnel and collections budgets. Instead, library administrators appear to be looking to encourage structural...
...When it comes to the week ahead, Obama is likely to focus his anti-Bush message on the rather technical subject of budget gimmickry. Obama previewed this line of reasoning on Monday, when he kicked off a fiscal summit at the White House. "For too long, our budget process in Washington has been an exercise in deception," Obama announced. "We do ourselves no favors by hiding the truth about what we spend." In specific terms, this means accounting for expenses like the wars in Iraq and Afghanistan as well as natural disasters as part of the normal budget process...