Word: surpluses
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...fashion. Shrugging off the E.U.'s straitjacket on borrowing for the third straight year, France and Germany last week all but admitted their economies wouldn't fit the tight rules in 2004. In the U.S., sweeping tax cuts and a costly war in Iraq brought a slide from surplus - that is so mid-'90s! - to a record $455 billion deficit in just three years, with the likelihood of further borrowing next year. With the U.K. government having declared record holes in its public finances last week, why would anyone bother to observe that fusty old Growth and Stability Pact...
Davis has seen his approval rating plummet to a mere 27%. Constituents are outraged that the budget surplus he inherited when he entered office has deteriorated to a deficit of $38 billion, and that he's championing an $8 billion tax increase. But few could have expected that these problems would exact such a swift political price. If the recall proponents get 900,000 valid signatures by mid-July, a costly special election will be held in the fall. Voters will be asked whether Davis should be removed from office--and, on the same ballot, which candidate should replace...
However, almost all of that surplus was part of the merger payments guaranteed to Radcliffe from the University—start-up payments which are slated to sunset in 2012. After that, Radcliffe will be responsible for its own funding as one of the University’s 10 autonomous schools. But unlike the other schools, which gain revenue from tuition and have growing alumni bodies, Radcliffe’s alumnae base will only decrease over time—and the Institute must plan accordingly...
However, CHUL voted in favor of using part of the meal tax surplus to fund hot breakfasts in all the Houses during the January exam period and ignored Weissbecker’s claim that “it is simply not feasible” to offer hot breakfasts during that time...
...Weissbecker announced that Food Services had actually netted a surplus. By the end of the 1977 fall semester, they had gained $100,000. After paying off debt and placing some of the funds in a reserve account to purchase new equipment, Weissbecker told The Crimson in May 1978 that the final balance of the Food Services annual budget...