The other D-word Nov 21, 2009
The government, too, is keen for the BoJ to keep doing its bit to stimulate growth, because the fiscal deficit is already projected to reach 10% of GDP next year and it has expensive campaign promises to keep. The government was given a dose of good news on Monday when it was reported that economic growth picked up in the third quarter, reaching 4. (The Economist)
AP: Plastic Surgery Levy to Help US Health Care Plan Nov 21, 2009
President Barack Obama campaigned on a promise of offering affordable health care to all Americans, but the recession and a deepening budget deficit have made it difficult to win support for costly new programs. Vanity was an easy target as lawmakers scraped for cash for the nearly $1 trillion plan. (Missourian Publishing, MO)
Letters for Friday, November 20, 2009 Nov 21, 2009
kuaina wrote on Nov 20, 2009 7:33 PM:" Liberal morons, ( you know who you are.) Just because Ms. Weir mistakenly calls Harry Reid " the senator from Utah", that means what she wrote is somehow totally incorrect. What part of America going broke do you not understand? Medicare, Medicaid and Social Security are all headed for insolvency. States and cities will be the next in line for bailouts and Obama continues to spend like a drunken sailor. The deficit is growing by leaps and bounds and you... (Lihue Garden Island, HA)
NBA Roundup: Magic, Carter win fourth in a row Nov 21, 2009
The game was the first meeting between the teams since the playoffs, when Orlando rallied from a 3-2 deficit to advance. It was the first time in franchise history that the Celtics lost a series after going into Game 6 with a chance to clinch. (Pittsburgh Post-Gazette, PA -- Sports)
Minister: Taliban can be defeated Nov 21, 2009
"The government has always been committed. The question has not been the deficit of willpower, the question has always been the resources and an agreed program and priorities," he added. Video: Afghan govt. (CNN -- World)
Obama job approval rating drops 50% Nov 21, 2009
"Americans are also concerned about the Obama administration's reliance on government spending to solve the nation's problems and the growing federal budget deficit," Gallup said in an analysis of its poll, which surveyed 1,533 people from Tuesday to Thursday. The margin of error was 4 points. (India Times)
Fears of US double-dip recession Nov 21, 2009
This is one of the reasons why New Yorks governor is trying to cut the states education budget, in an urgent effort to plug the deficit. You have viewed your allowance of free articles. (FT.com -- Markets)
U.K. Economy May Have Turned Corner, Pound to Spur Recovery, Gieve Says Nov 21, 2009
The pound has dropped as the countrys budget deficit swells. The U.K. government expects the deficit to rise to 12. (Bloomberg -- UK)
At ATC, revenue down but salary up Nov 21, 2009
Presidents pay spikes despite deficit ... gave its previous president hefty salary increases over the last three years and in 2008 paid her nearly one-third of the organization s revenue while the group operated at a deficit amid sharply declining revenue. (Austin Business Journal, TX)
- Why are professors immune to cuts? 0 Nov 21, 2009
But the deficit that the state is facing won t end next semester, or even next year, and faculty, whether tenured or not, are as subject to its effects as any other state employee. Besides, if student enrollment is down, it doesn t make much sense to afford protected-class status to instructors. (El Centro Imperial Valley Press, CA)
Classrooms to be impacted by cuts Nov 21, 2009
The cuts are part of a cost-cutting package to shore up an estimated 700 million deficit. The blow to the classroom, however, is lessened by another piece of legislation signed into law. (Rio Rancho Observer, NM)
Salmon Speaks Out on DUI, Finances Nov 21, 2009
The state is facing a $200 million budget deficit over the next two years ... Shumlin bringing attention and concern to the upcoming $88 million deficit. (WCAX.com, VT)
Senate Nears First Healthcare Vote Nov 21, 2009
The nonpartisan Congressional Budget Office estimated Reid's bill would cost $849 billion over 10 years -- below Obama's $900 billion target -- reduce the budget deficit by $130 billion in the same period and extend insurance coverage to 31 million more people ... McConnell noted some of the bill's deficit reduction was possible because many of its provisions would not kick in until 2014, a year later than in the House bill. (Newsmax)
Belgians Proud of PM Taking First EU Presidency Nov 21, 2009
During the 2007 government crisis, central bank governor Guy Quaden warned of an extra budget deficit from the stalemate and made investors attach up to 10 points of premium for Belgian 10 year bonds over German bunds. The spread is currently 38. (Newsmax)
N.J. Governor-Elect: Expect No Fiscal Miracles Nov 21, 2009
In what was probably the last big speech of his political career, Corzine said the only two options for dealing with New Jersey's chronic budget deficit, unfunded pension liabilities and other rising costs is to cut spending by reducing services _ or raising taxes. "Bold and unpopular actions are the only way to deal with these issues," said Corzine. (Newsmax)
Beacon Hill Roll Call: House rejects amendment requiring prisoner fees Nov 21, 2009
They argued that in light of the budget deficit and cutbacks in many human service programs and local aid, the Legislature should give the $18 ... Opponents of the study said that this would save millions of dollars and send a message to people that the Legislature is serious about trying to close the budget deficit. (Cambridge Chronicle, MA)
Eagles, Billies battle tonight Nov 21, 2009
GCT rallied from a 10-point deficit to beat the Magnolia Panthers last week, 28-24. GCT coach Jeff Conaway said his team is not ready for the season to end yet. (Paragould Daily Press, AR)
Public shifting recession blame Nov 21, 2009
Rising federal deficit may partly explain shift, CNN polling director says ... One reason for that, Holland said, may be the growing federal budget deficit: Two-thirds say that the government should balance the budget even in a time of war and recession. (CNN)
North Callaway school board hears audit review Nov 21, 2009
AUXVASSE -- Despite operating on a deficit for the third year in a row, the auditor for North Callaway Public Schools said the district is in better financial shape than many others in the area. "The district did have deficit spending in every fund, for a total of 466,000," said auditor Jim McGinnis, citing unplanned spending out of the general fund -- which had a deficit of 220,000 -- for new lights in Auxvasse and gas line repairs at the high school; increased expenses, particularly in... (Fulton Sun, MO)
24 South St. Notebook Nov 21, 2009
Tuesday, June 30, 2009 1:50 PM EDT. The address for Auburn's Memorial City Hall on South Street is familiar to many follower's of the city's government and its political scene. (Auburn Citizen, NY)
2010 Budget lacks sense of urgency - CPP Nov 21, 2009
He said there was "no single digit inflation, no reduction of budget deficit to sustainable levels, no improvement in the foreign exchange regime," he said. Mr. Nylander observed that when the NDC presented its first budget on March 5, 2009, government proposed reduction in the estimated 2008 end of year budget deficit of 14. (Ghana Web, Ghana)
Ike makes school history with regional title Nov 21, 2009
However, after falling into a two-games-to-one deficit against the Ramblers, the Eagles rallied to win Game 4, before carrying the momentum through Game 5, winning their first regional crown in school history, 25-19, 20-25, 20-25, 25-22 and 15-8 ... Eisenhower never really recovered from the early deficit, managing to close the gap to four points at 23-19 on a service point by Haley Maron ... Eisenhower rallied, though, cutting the Rambler lead to 15-10 on three service points by Catalano,... (Shelby Twp Advisor & Source, MI)
Current Account Deficit Narrows Amid Declines in Price of Oil Nov 21, 2009
U.S. Current-Account Deficit Falls on Oil Prices - WSJ.com ... U.S. Current-Account Deficit Falls on Oil Prices ... WASHINGTON -- The U.S. current-account deficit hit a record in 2006, but lower oil prices and strong export growth shrank the deficit in the fourth quarter and could continue to do so this year. (Yahoo News -- U.S. Budget)
Far from track, suspended Mayfield holds auction Nov 21, 2009
Mayfield claims a mix of the prescription drug Adderall to treat attention deficit hyperactivity disorder and the allergy medication Claritin-D created a false positive. Mayfield won an injunction July 1 to lift his suspension, but did not attempt to make any of the three races before the U.S. Court of Appeals upheld the suspension on July 24. (Atlanta Journal-Constitution -- Sports)
Sugar Price to Remain `Firm' Next Year, Australia's Biggest Exporter Says Nov 21, 2009
Prices rallied as adverse weather in Brazil and India constrained output, extending a global production deficit into a second year ... The supply deficit is likely to narrow to 6 million tons, from 10 ... Theres minimal production increases in five or six countries, but not enough to turn the world market from the current 11 million-ton deficit to anything at all that looks like a surplus, Queensland Sugars Winney said. (Bloomberg -- Australia & New Zealand)
Bill would cause increase in Medicare premiums Nov 21, 2009
The Senate s version of the legislation was sidetracked earlier in the fall in a bipartisan rebellion over its impact on the deficit. Tags. (Coos Bay-North Bend The World, OR)
Answering questions Nov 21, 2009
The district's projected deficit for the next fiscal year, which starts July 1, is 2. 3 million, but some of that deficit can be covered with "rainy day" funds. (Sonoma Index-Tribune, CA)
El Salvador's Post-Downgrade Bond Sale Costs Two Points Over Panama Issue Nov 21, 2009
They need money to cover a lot of the spending from natural disasters and the deficit. . (Bloomberg -- Latin America)
Africa's Biggest Wind Farm Runs Into Stormy Weather Nov 21, 2009
With a capacity of 300MW, 17 per cent of the country's electricity generation capacity, Lake Turkana Wind Power offers the best chance of meaningfully reducing the country's power deficit in the medium term. Currently Kenya's interconnected power system has an effective capacity of only 1,289 MW during average rainfall. (allAfrica.com)
Tuition Hikes: Protests in California and Elsewhere Nov 21, 2009
California's budget analyst announced this week that the state is facing another huge deficit next year $21 billion of red ink. Amid signs reading "RIP Affordable Education" and "California #1 in Prison Spending, #48 in Education," Emily Bischof, a fourth year geography and environmental studies major at UCLA said the cuts are significant. (Time.com)
Industrial Mittelstand Companies Face Credit-Crunch Threat, Schaeuble Says Nov 21, 2009
The debt rule in Germanys constitution compels the government to gradually reduce the structural deficit to 0. 35 percent of gross domestic product by 2016, Schaeuble said, meaning a reduction in the structural deficit in the federal budget by 10 billion euros every year. (Bloomberg -- Germany)
Electronic Game Card, Inc. Files 10-Q for Period Ending September 30, 2009 Nov 21, 2009
ELECTRONIC GAME CARD, INC. CONSOLIDATED BALANCE SHEETS September 30, December 31, 2009 2008 ------------- ------------ (Unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents $12,696,691 $8,281,899 Marketable securities - 876,186 Accounts receivable 3,668,448 2,757,685 Deposit on inventory 1,214,333 51,833 Other receivables 162,757 120,109 VAT receivable 14,658 25,916 Common stock receivable 628,761 - Deferred charges - 38,119 --------- ---------- Total current assets 18,385,648 12,151,747... (Yahoo! Wire -- Entertainment News)
Three Key Lessons from Obama's China Tour Nov 21, 2009
China's concerns, of course, have dramatically expanded in recent years, as was emphasized by Beijing's anxiety over the implication for its own dollar-denominated wealth of U.S. budget deficits ... For example, U.S. officials traveling with President Obama faced detailed questions about how the U.S. planned to pay for health-care reform, with China increasingly alarmed at the ballooning deficit and the gloomy economic outlook. (Time.com)
The deficit problem: Dealing with America's fiscal hole Nov 21, 2009
Don t cut the deficit now but explain how, eventually, you will ... The problem is not the deficits in the next couple of years, but in the years that follow ... Uncertainty over how taxes may be raised to shrink deficits may already be weighing on business confidence. (The Economist)
Total tax arrears at Rs 2 lakh crores: Govt Nov 21, 2009
NEW DELHI: The total tax arrears have galloped to nearly Rs 2 lakh crore till September 30, 2009, an amount sufficient to fund at least half of the government's budget deficit for the current financial year ... The total tax arrears have galloped to nearly Rs 2 lakh crore till September 30, 2009, an amount sufficient to fund at least half of the government's budget deficit for the current financial year. (India Times, India)
Here are questions that deserve some answers Nov 21, 2009
The deficit was approximately $450 billion when Bush left office. 6. (Klamath Falls Herald & News, OR)
Battling the budget Nov 21, 2009
A major threat for a worsening budget deficit at Hall is a health care cost increase Struna said could make landfall next year ... Overall, Hall has had a combined budget deficit of $100,000 in the last two years, Struna noted ... He said the district could see an even bigger deficit this year and suggested the board consider whether it;s time to borrow money, raise the annual district tax levy or implement fee increases. (Princeton Bureau County Republican, IL)
Stephens’ 3s fuel Tigress second-quarter surge Nov 21, 2009
Stephens; flurry capped a 22-5 spurt, including nine straight points, which turned an 18-9 deficit into a 31-23 lead. The senior guard finished with a team-high 23 points to lead the Tigresses to a 61-57 win over the Timberwolves. (Princeton Bureau County Republican, IL)
Is it time to completely decontrol the sugar sector? Nov 21, 2009
Farm Minister Sharad Pawar early this month said India would consume up to 7 million tonnes more sugar than it would produce in 2009/10 and the imported raw sugar being processed in the new season would not be enough to bridge the deficit. 1. (India Times)
School district workers pump insurance claims to $5.7 million Nov 21, 2009
After recovering some of that from a stop-loss carrier, the net deficit was $323,073 ... After the stop-loss carrier amount was recovered, the deficit was lowered to about $3 ... - Claims in the first five months of this year added another $2 million to the deficit, bringing the total to $5. (Gillette News-Record, WY)
Flaherty Says He Won't Take Measures That Could Hurt Economic Recovery Nov 21, 2009
It is only when we are in the midst of a firm sustainable recovery that we can properly begin to make the informed choices necessary to eliminate our temporary deficit, Flaherty said ... Canada, which revised its fiscal forecasts in September, estimates a budget deficit of C$55. (Bloomberg -- Canada)
Cowboys rally for victory Nov 21, 2009
Third-string quarterback Brandon Weeden threw for 168 yards and two touchdowns in the second half, leading No. 12 Oklahoma State back from an 11-point deficit for a 31-28 win against Colorado on Thursday night ... Two plays later, Toston finished that drive with a 45-yard touchdown run through a huge hole on the right side of the line to cut the deficit to 21-17. (Coos Bay-North Bend The World, OR)
Score one for the little guys; Lions beat Wildcats, 68-61 Nov 21, 2009
The Wildcats shaved seven points off their deficit, making it 29-27 at the break, thanks to a late second quarter run after Peters picked up his third foul ... Prestonwood turned a four-point deficit into a four-point lead with an 8-0 run that capped off with 3:41 left in the game. (McKinney Courier-Gazette, TX)
Broncos take lead in third, never look back Nov 21, 2009
With basketball now fully in charge of Friday night, a 30-point third quarter saw McKinney Boyd overcome a halftime deficit and defeat Greenhill, 69-67. Leading the charge was junior Zach Parr and senior Jeff Blackmon, who rallied the Broncos with 15 points worth of three-point shots in the third to overtake the lead and give teammates the spark needed to hold on. (McKinney Courier-Gazette, TX)
Plano: NTFB launches holiday campaign highlighting new faces of hunger Nov 21, 2009
Although I had some reserves set aside, I quickly found myself in a deficit because I was drawing funds profusely without having a steady income to replenish it. My wife and I ultimately had to choose between eating and paying the bills, he said. (McKinney Courier-Gazette, TX)
Press Release: IMF Mission Reaches Staff-Level Agreement on Third Review Under Stand-By Arrangement with Belarus Nov 20, 2009
Prudent fiscal and monetary policies would narrow the current account deficit and bring inflation to single digits. Monetary policy would continue to support the credibility of the exchange rate regime. (IMF News)
Wash. Revenue Drops $760M In Latest Forecast Nov 20, 2009
-- Washington's state checkbook has lost another $760 million, pushing the state's budget deficit past $2 billion through mid-2011. Thursday's official revenue forecast sets the table for Gov. Chris Gregoire to write an updated state budget next month. (KIRO TV, WA)
California Continues to Hemorrhage Red Ink Nov 20, 2009
The deficit, he said, will expand to $14 ... "The scale of the deficits is so vast that we know of no way that the Legislature, the governor and voters can avoid making additional, very difficult choices about state priorities," the LAO report said ... Unless the state's spending and revenues are brought into line, California, the nation's most populous state, will face at least $20 billion deficits each year through 2015, Taylor said. (Newsmax)
Press Release: Statement by an IMF Mission to Mali Nov 20, 2009
The basic fiscal deficit, which excludes foreign financed investment spending, is projected to remain within the program limit of 1 ... The basic fiscal deficit is targeted at 1. (IMF News)
'Rewarding' Terrorists Nov 20, 2009
Now, according to the CBO, the bill would reduce the deficit by $127 billion the next decade ... It's going to increase the deficit. (Fox News)
Answering questions Nov 20, 2009
The district's projected deficit for the next fiscal year, which starts July 1, is 2. 3 million, but some of that deficit can be covered with "rainy day" funds. (Sonoma Index-Tribune, CA)
Privatization plan to bolster state revenues Nov 20, 2009
4-billion deficit that finance officials say the state will face even if voters approve a set of ballot measures in Tuesday's special election. Advertisement. (Yahoo News -- Arnold Schwarzenegger)
Gem state schools face cuts, agencies may be eliminated Nov 20, 2009
The original budget deficit was $151 million, before Otter ordered agencies to trim 4 percent from spending in September. To make up the rest, Wayne Hammon, Otters budget chief, told tax conference attendees that everything is on the table, including privatizing services, selling state-owned real estate, even eliminating entire agencies. (Ontario Argus Observer, OR)
Thought-Controlled Game; Jedi Mind, Inc. Provides Update on Progress Nov 20, 2009
The initial application is intended to be a simple, introductory level game for a wide demographic of people of all ages to enjoy and was designed to provide cognitive exercise for anyone playing, but is especially beneficial to children with Attention Deficit Disorder (ADD) and the elderly who need to continually use and build their focus and concentration skills. The Company plans to sell the game, "Think-Tac-Toe" online at a price of $49 and will release details regarding where to purchase... (Yahoo! Wire -- Entertainment News)
Ike makes school history with regional title Nov 20, 2009
However, after falling into a two-games-to-one deficit against the Ramblers, the Eagles rallied to win Game 4, before carrying the momentum through Game 5, winning their first regional crown in school history, 25-19, 20-25, 20-25, 25-22 and 15-8 ... Eisenhower never really recovered from the early deficit, managing to close the gap to four points at 23-19 on a service point by Haley Maron ... Eisenhower rallied, though, cutting the Rambler lead to 15-10 on three service points by Catalano,... (Shelby Twp Advisor & Source, MI)
Board is working hard for residents Nov 20, 2009
To highlight why this is so important: the police currently have $11 million in surplus but are projected to have around a $10 million deficit within five short years. This is a $21 million swing. (Shelby Twp Advisor & Source, MI)
Dem lawmakers introduce Afghan war surtax Nov 20, 2009
say that the bill woild end the practice of paying for the war with deficit spending. . (TheHill.com)
France to take Big Loan to boost economy Nov 20, 2009
All this new spending, when France's debt and deficit are already at record levels, has attracted criticism both from the country's opposition Socialist party and from within Sarkozy's governing conservative UMP party ... "France has a relatively large debt burden, high deficits, a well-developed infrastructure and a history of unsuccessful attempts to 'grow' out of its debt," Moody's analyst Arnaud Mares said in a report ... "The question is whether it will be wisely spent, and what impact it... (Sydney Morning Herald -- Business)
Current Account Deficit Narrows Amid Declines in Price of Oil Nov 20, 2009
U.S. Current-Account Deficit Falls on Oil Prices - WSJ.com ... U.S. Current-Account Deficit Falls on Oil Prices ... WASHINGTON -- The U.S. current-account deficit hit a record in 2006, but lower oil prices and strong export growth shrank the deficit in the fourth quarter and could continue to do so this year. (Yahoo News -- U.S. Budget)
School district workers pump insurance claims to $5.7 million Nov 20, 2009
After recovering some of that from a stop-loss carrier, the net deficit was $323,073 ... After the stop-loss carrier amount was recovered, the deficit was lowered to about $3 ... - Claims in the first five months of this year added another $2 million to the deficit, bringing the total to $5. (Gillette News-Record, WY)
UK public sector borrowing hits record 11.4 bln Nov 20, 2009
That compared with a deficit of only 100 million pounds in the same month one year earlier. The office for National Statistics also said Britain had a public deficit of 5 ... The deficit -- or "public sector net cash requirement" -- for October compared with a repayment of 2. (Yahoo! Asia News)
Friday night takes a turn on Lions Nov 20, 2009
A drive carried exclusively by junior running back Damion Willis, who carried the ball 35 times for 212 total yards, culminated with a 29-yard run and a successful 2-point conversion, but that only brought the deficit to 49-32. While the Lions did manage two scores in the fourth, Highland Park fired back with three of its own. (McKinney Courier-Gazette, TX)
Lawmakers grapple with state’s budget deficit Nov 20, 2009
Lawmakers grapple with state s budget deficit , Assistant Editor11/19/2009. Budget negotiations at the capitol have reached an impasse over health and education cuts. (Queens Chronicle, NY)
Plan may cut Hawaii school furloughs Nov 20, 2009
Lingle had said she did not favor using special funds such as the hurricane relief fund or the rainy day fund to reduce teacher furloughs and, like state House and Senate leaders, had cast the issue as part of the larger debate on a $1 billion budget deficit through June 2011 ... 5 percent, and Lingle conceded that it would treat teachers differently from the state's other union workers who have agreed to furloughs to 00004000 help close the budget deficit ... Hanabusa also predicted that... (Honolulu Advertiser)
University of Hawaii coach's $1.1M salary raising grumbles Nov 20, 2009
McMackin's hiring was widely praised though the terms of the deal, a five-year contract some have described as "ironclad," and the hefty base salary immediately raised eyebrows at an athletic department that was running an accumulated deficit of upward of $5 million. J.N. Musto, executive director of the UH Professional Assembly, the faculty union, said he supported McMackin's hiring because he believed the coach looked out for his players, but said, "I suspect and it is my personal opinion ... (Honolulu Advertiser)
