Word: budgeting
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Maintaining a minimal budget deficit is essential in order to avoid saddling future generations with a hefty economic burden. On both sides of the political aisle, economists agree that maintaining a large federal budget deficit decreases national saving and lowers living standards in the long run. We cannot sustain deficits at 10 percent of GDP—as they are now—without significant consequences in the future...
Obama’s budget proposal, which he has stated will maintain commitments to health care, education, and energy, specifically, show that he is striving to maintain the priorities he set for his administration during his campaign. Going forward, however, he should be cautious in making too many conflicting promises that he might not be able to fulfill—particularly given changing economic realities since he began his campaign...
This year’s expansion amounts roughly to a 40 percent budget increase at a time when other Harvard programs and departments are slashing costs. But IOP officials said that they believed the program would remain at its current size next year due to financial considerations...
...Congress returns from its midwinter break and Obama readies his first joint address to Congress, Cantor and the rest of his party are grappling with how to approach the rest of the President's agenda this year - housing and foreclosures, financial markets re-regulation, the budget, universal health care and green jobs. The key in opposing the stimulus, Cantor says, was offering a credible alternative. "Our members in the House really rallied around a forward-looking, smarter, simpler stimulus plan," Cantor says. "We took a very positive, constructive view on where the stimulus should be, and when the bill that...
...Republicans that suffer, it's all of us. I believe that President Obama and the Democrats will work with us because the stakes are just that high." He also emphasizes the large areas of agreement between Dems and Republicans on upcoming legislation, such as the need for an austere budget (though Cantor opposes letting President Bush's tax cuts to the wealthiest Americans lapse, as Obama intends); the expansion of employer-provided health-care insurance rather than single-payer government health care; and a commitment to renewable energies while keeping the door open to increased oil and gas drilling...