Word: fiscal
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...many people, and that we could just be doing better." He was talking about health care, of course. As Washington collapsed toward its August recess, the President's reform efforts were looking distinctly iffy, even though he is absolutely right about the need for change. The system is a fiscal mess, the king of all budget busters. It is also a moral mess, leaving far too many Americans with far too little protection. But the President is wrong when he says, "The system we have isn't working well for too many people." The vast majority - more than...
...hire at a salary above the minimum set by civil-service guidelines. Some orders gave low-level workers a more livable wage. Others were a bit gratuitous. For example, one aide went from making $107,225 to $118,607. Isn't 107 grand enough to live on? The fiscal impact of these orders totaled about $1.5 million...
...uttering a collective sigh of relief now that most have their new budgets in place, but that is not the case. Dread is more like it. If FY 2010 budgets follow a pattern similar to the ones in the past two years, new gaps will emerge after the fiscal year begins-in fact, some states already are reporting new shortfalls just weeks into the new fiscal year...
...crisis could persist: "If the recession lingers (as some economists suggest), economic growth is particularly tepid (as some economists warn), or the nation dips into another recession (as some economists predict), state fiscal problems would obviously last longer. This all underscores an unfortunate fact: Without a doubt, lawmakers' endurance to resolve extraordinary fiscal problems will be tested for years to come...
...grumbling about the deficiencies of the economic-stimulus package, it has have been the glue holding states' tattered budgets together. And the boost it has offered will inevitably wane. "Several revenue failures are generating a lengthy chain of acute budget gaps," the report notes. "Because the current state fiscal crisis began in FY 2008, many states are looking at a minimum of four to five years of deep fiscal problems." The headline of one ominous section - "The Foreboding Future" - is really all you need to know. The rest is mostly just recession gore...