Word: surplus
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Dates: during 2000-2009
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...glaring exception. It's a basic presidential responsibility, but we sometimes overlook it or think of it as an economic or technical matter rather than a profound moral one. In three short years, this President has so ramped up government spending that he has turned a fiscal surplus into a huge and mounting debt. Far from taking responsibility for the nation's finances, the President has shirked basic housekeeping and foisted crippling debt on the next generation. If a President is in some sense the father of an extended family, Bush is fast becoming a deadbeat dad, living...
...school ran a deficit of $5.9 million in 2002 and eventually had to cut 47 administrative and adjunct faculty positions to return to the black. In 2003, after pledging to cut its deficit in half, the school actually ran a slight surplus...
There's something deeply nostalgic about watching a U.S. Treasury Secretary fly to Asia to press a nation that is running a massive trade surplus with the U.S. to revalue its currency?and then come home with nothing to show for his trip but soothing waffle. In the late 1980s and early 1990s, the target of U.S. ire was Japan; now it's China, from which Treasury Secretary John Snow has just returned with assurances that the Chinese will soon show "flexibility" in their currency policies. For a while, trade tensions with Japan were a focus of U.S. domestic politics...
...shouldn't, although it's easy to see why it might. In 2002 China's trade surplus with the U.S. was $103 billion, twice what Japan's was at the height of Japan bashing 12 years ago. With its abundance of cheap labor, China can undercut American manufacturers of everything from toys to furniture to clothes. China has long pegged its currency, the yuan, to the dollar, and not long ago U.S. policymakers had nothing but praise for the way China managed its foreign exchange. In the Asian financial crisis of 1997-98, China did not devalue the yuan...
Harvard Medical School (HMS) closed with a small surplus as well and expects a repeat performance next year, according to Eric P. Buehrens, the school’s executive dean for administration. However, a confluence of factors—including the low payout numbers, investments in building and renovations and plans for future expansion—all mean money out of HMS’s budget and the “potential for significant deficits...