Word: shrunk
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...party has shrunk to its base, it has catered even more to its base's biases, insisting that the New Deal made the Depression worse, carbon emissions are fine for the environment and tax cuts actually boost revenues - even though the vast majority of historians, scientists and economists disagree. The RNC is about to vote on a kindergartenish resolution to change the name of its opponent to the Democrat Socialist Party. This plays well with hard-core culture warriors and tea-party activists convinced that a dictator-President is plotting to seize their guns, choose their doctors and put ACORN...
Could there be a worse time to start an airline? OpenSkies lifted off last June, as the global economy was seizing up. Even though airlines got cost relief via collapsing jet-fuel prices, the deepening recession has caused demand for seats to fall faster than supply could be shrunk. The result: airlines are suffering, as usual...
...told Congress that he was willing to "sacrifice some worthy priorities" to make his budget responsible. White House aides say that the president has already made significant sacrifices by scaling back his campaign promises in the current budget. To make the numbers balance under a rosier outlook, Obama shrunk the size of the "Make-Work-Pay" tax credit by 20%, to $800 per family. He slowed down his foreign aid spending plans, scrapped a plan to reduce income taxes for the elderly, and proposed higher taxes for wealthy taxpayers who make charitable contributions...
...slow economic recovery. The payout from the endowment will decline by 8 percent in dollar value for the next fiscal year and is projected to fall by at least another 8 percent from 2010 to 2011—meaning that the payout in two years will have shrunk by over 15 percent from this year, the University’s Chief Financial Officer Daniel S. Shore said yesterday. The new budget guidance marks a departure from University instructions issued in the fall, which directed Harvard administrators to plan for scenarios ranging from a flat payout to a 2 percent decline...
...same month a year earlier, while Singapore's fell 35% and South Korea's 33%. Overall economic growth is following suit. In the fourth quarter of 2008, Taiwan's GDP contracted 8.4% from the same period a year earlier, the worst quarter on record. South Korea's GDP shrunk 3.4% in the fourth quarter, Singapore's fell 3.7% and Hong Kong's dipped 2.5%. Eric Fishwick, head of economic research at brokerage CLSA in Hong Kong, predicts these dismal numbers will persist. He sees Singapore's GDP contracting 10% this year, while South Korea's will decline 7%, Hong Kong...