Word: trillion
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...July. But last year that figure was $144 billion. And on the redemption side (ignoring new money coming in) the bloodletting has rarely been so extreme. At the current pace, investors will cash out $732 billion from stock funds this year, equal to 22% of the industry's $3.4 trillion in stock-fund assets. That percentage has run in the middle teens since 1990, according to the Investment Company Institute, a trade group. Why all the selling? Possibly online stock trading and Internet speculation--not to mention frustration with middling returns--are redirecting money away from stock funds...
...this week. Clinton is calling for a smaller income tax cut and some increased domestic spending on widely popular social programs. There is a deep hypocrisy in Republican outcries against Clinton's budget plans, which they claim are extravagant, in contrast with their own willingness to approve an irresponsible trillion dollar...
That's because when the bean counters counted the beans and predicted there would be an extra $1 trillion in 10 years, not counting Social Security revenues, it was assumed that lawmakers would obey the laws they had written and slash future spending by billions of dollars. If lawmakers bail, then there's less extra money to pay down the debt. Republican proposals so far, rather than cutting spending, would increase it next year about $25 billion, which more than wipes out next year's projected $14 billion surplus. The only place to find that money is to raise taxes...
...Republicans fanned out during their August recess to try to rally public support for their tax cuts--Please, let us give you more money!--but the polls showed a public unmoved. Voters said they would rather use the money, if it exists, to pay down the $5.6 trillion national debt. "People are genuinely fiscally conservative in this country," says Stephen Moore, an irrepressible supply-sider from the Cato Institute. Though personally he'd prefer deep tax cuts to spur growth, he finds in his travels that "a lot of people look at this mountain of debt...
...that the budget deficit has morphed into a surplus, the Treasury's Bureau of Public Debt is in sore need of a new mission. Sure, the U.S. still has $5.6 trillion in obligations to manage. That'll keep it busy for a while. But things are different now that we're no longer spending more than we make. For one thing, the once vitally important U.S. savings-bond program seems ripe for attrition. Savings bonds finance only 4% of the national debt, down from more than 20% in their heyday, and officials are in deep discussion about how to keep...