Word: fiscal
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Intuit, which had an annual revenue of $3.2 billion in the fiscal year 2009, says it bought Mint "to enhance Intuit's position as a leading provider of consumer-software-as-a-service offerings." It's going to leave Mint as a stand-alone service and incorporate some of the young company's ideas into Intuit's products, including "Ways to Save." But clearly Mint's rapid growth was something Quicken had to either kill or get in on. Buying the site means it can do either...
...plans to appoint 100 ruling-party politicians to oversee ministries. In order to transfer more power to the Cabinet - and away from ministry bureaucrats - the DPJ will also replace the Council on Economic and Fiscal Policy, an advisory group to the Prime Minister's office set up in 2001, with a National Strategy Bureau (NSB) reporting to the Prime Minister. The NSB will be key in budget and diplomatic-policy formulation. The DPJ also wants to improve government transparency and crack down on conflicts of interest by eliminating amakudari, or "descent from heaven," a system whereby retiring bureaucrats are posted...
...this "in a political context," not an economic one. But for most of Cheney's time as Vice President, the claim held up pretty well in both contexts. Over O'Neill's objections - he'd be gone soon anyway - the Bush Administration and Congress abandoned a bipartisan commitment to fiscal prudence that had held sway since the early 1990s and went back to running chronic deficits. The result was a growing economy and a second term for George W. Bush. (See George W. Bush's biggest economic mistakes...
Even when crisis came, in 2008, it wasn't a crisis of government finances, as some pessimists had feared, but one of mortgages and Wall Street. As Washington battled the troubles, the deficit grew to an estimated $1.6 trillion in the fiscal year that ends this month. That's by far the biggest shortfall ever, in dollar terms. The government will have spent $3.7 trillion and taken in $2.1 trillion. Even by the more forgiving yardstick of percentage of gross domestic product, the shortfall is, at 11.2%, the biggest since World War II. It will be smaller next year...
...rates on Treasuries inched up. And another billionaire launched an assault on deficit spending - this time private-equity kingpin Peter Peterson, who took most of the $1.9 billion he made from the 2007 initial public offering of his Blackstone Group and put it into a foundation devoted to raising fiscal awareness...