Word: slash
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Easley isn't the only Governor feeling helpless. After a decade of good times, most state governments are being forced to either slash budgets, spend their savings or raise taxes. So far, 17 states have dealt with shortfalls...
...surplus doesn't imperil current Social Security recipients), it's tempting to turn off the whole sorry show and head back to the beach. But the dwindling surplus will have a real impact on ordinary Americans. To avoid cutting into the Social Security trust fund, Congress may have to slash farm subsidies, tax credits for the working poor and other social programs. A lack of surplus dollars to pay down the national debt helps keep mortgage and credit-card rates higher than they should be. And all those great-sounding programs Bush and Al Gore argued about last year--giving...
...another tack. Last month, new (since March) CEO Mario Corti publicly repudiated Swissair's costly expansion strategy, saying the "fragmentation of the group created a difficult-to-manage structure, often at the expense of the customer and causing dilution of the core Swissair brand." He vowed to slash the company's $4.4 billion debt by $1.7 billion over the next 18 months...
...first in his family to attend college, Barreto founded Barreto Insurance and Financial Services, a small company catering to Latinos. He worked on George W. Bush's presidential campaign and was confirmed to head the SBA last month. Barreto, 39, will take over just as Bush plans to slash the SBA's funding...
...decade of economic paralysis. Consumers aren't buying much. Bankers aren't lending much. The government is deep in hock. The only hope of escaping this mess is represented by Japan's newest Prime Minister, Junichiro Koizumi, who is determined to administer economic shock therapy. Koizumi promised he would slash government spending, compel major banks to speed up disposal of bad loans--estimated at nearly $1 trillion--allow unprofitable companies to go bankrupt and restructure the economy to make it more market oriented...