Word: offsets
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...sway enough conservative Democrats to pass their own budget plan. Democrats decided to reverse some of their cuts. Perkins called his committee Democrats into caucus and chose to restore $1.75 billion for such programs as school impact aid, student loans and Head Start preschool education centers. The committee offset that by eliminating $1.57 billion from other programs -$1 billion from the Comprehensive Employment and Training Act (CETA) job program, as the Administration had recommended...
...reasons for the upheaval in personal finance are not hard to pinpoint: double-digit inflation and high taxes. There are almost no savings instruments that pay interest high enough to offset their ill effects. "When inflation gets into double digits, you have to do something or else lose the race," says George Sullivan, an IBM executive in Denver, who has switched most of his cash from a bank to a money-market fund. Assuming 10% inflation, someone in the 50% tax bracket would now have to get 20% interest on his savings just to break even...
These cuts and the $400 fee alumni pay to bring their families help offset the rising cost of labor and steep price increases for large events. For example, the cost of renting Symphony Hall for the traditional Boston Pops concert for alumni and their families "goes up in the thousands" each year, she said...
...points last week, earning Harvard about $3.25 million. Coca-Cola gained a point, adding roughly $100,000 to Harvard's portfolio value. Kodak's gain of 2 7/8 offset the near-$700,000 loss caused by Xerox's 2 1/2-point decline. And AT&T's additional 1 3/4 points netted Harvard about $1.5 million...
University moneyminders are hoping, however, that a drop in the amount of federal aid Harvard receives annually will not offset the energy savings. Although last September the Senate authorized $48.4 billion to fund student aid programs over the next five years, the Reagan administration budget cuts portend hard times for both financial aid money and University research funds. While families braced themselves for hefty tuition increases, Harvard scientists and scholars began to look for other sources to subsidize their projects...