Word: surplus
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Dates: during 2000-2009
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...drop in demand for Alberta oil, plus auto-plant shutdowns in Ontario, have pushed Canada's trade deficit for May to an all-time high of $1.2 billion. This is in contrast to to a much smaller merchandise-trade deficit of $346 million reported in April and a healthy surplus of $979 million in March, according to the government agency Statistics Canada. (See 10 things to buy during the recession...
...Last year was a great one for energy and agriculture: corn, crude oil, coal and wheat are major state exports. The boom helped push energy outfit MDU Resources onto the Fortune 500 (the first North Dakota firm to make the list) and the state budget to a $1.2 billion surplus. State workers around the country are being told to sit at home without pay to trim costs; in North Dakota they're getting 5% raises...
While homeowners celebrated, city, county and school district officials sat in stunned disbelief. There were predictions of drastic cuts to education and social services. But the ax did not fall as Sacramento, flush with a multibillion-dollar surplus, bailed out local governments and the schools. But the state rescue was accompanied by a loss of local control. As a result of Proposition 13, school districts, county governments and cities were forced to compete with state priorities for a slice of the state budget...
...first years after Proposition 13 passed, the state was able to get by because it had a surplus," says David Menefee-Libey, a political scientist at Pomona College. "But because the state is now responsible for funding local government and school districts the demands on state resources became too great. The second strategy followed by [Governors Gray] Davis and [Arnold] Schwarzenegger has been to finesse the fiscal crisis by using budget gimmicks and by borrowing to bridge the yearly budget shortfall. Now both options are exhausted...
...slashing its full-time faculty by 11 percent over two years, hiking tuition, stepping up fundraising efforts, and slicing administrative budgets by 5 to 15 percent, HKS managed to dramatically eliminate its deficit in a short amount of time. By 2004, the School had achieved a $1.1 million surplus, and in 2005, it recorded a $3.6 million surplus...