Word: budgeting
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...Boston Selling Art to Save a School In order to combat a crippling budget crisis, Brandeis University said it will close its Rose Art Museum and sell all 6,000 pieces in its $400 million collection. The decision, which the state attorney general plans to review, sparked an outcry. "It is not only unprincipled, but bad economics," said art historian Robert Storr...
...most aggressive peacekeeping mandate in U.N. history, one that includes "forcibly implementing" cease-fires and "using all means deemed necessary" to protect civilians and improve security. It is also supported by the world's largest peacekeeping force--20,000 soldiers from 18 countries--and funded by the biggest peacekeeping budget ever, an annual $1.1 billion...
...newspapers, met with senior White House staff, finished his daily briefing to President Obama, visited both houses of Congress to discuss the stimulus plan and pulled aside a few Senators to lobby them personally. In days prior, he helped lead meetings on the banking crisis, the next federal budget, health-care reform, changes to Medicare and Social Security and a pending reregulation of the financial markets. The litany of crises would give an army of economists the shakes, but it doesn't seem to faze the 54-year-old Summers. "It's part of what makes it a challenging, exciting...
...bankruptcy. By any standard, it is a massive three-month agenda fraught with political risk. The key to getting it all done, Summers says, is entering into a "compact" with the country "that this isn't just government as usual throwing money at things." When Obama unveils his annual budget in late February or March, Summers promises that the President "is going to describe the kinds of approaches he wants to take to the entitlement problems that have been ignored for a long time." Some options might include delaying retirement, stretching benefits and lifting the cap on taxable earnings. Could...
Sitting in a briefing room at the Old Executive Office Building - his office is still unfit for official visitors - Summers tells TIME that the strategic goal of all these moves is to render a massive fix for the economy but then muscle the federal budget back toward balance. "It is absolutely essential," he says, "and the President never lets us lose sight of this for an hour, that even as you do those things, you have to also be addressing the longer-range concerns. We inherited trillion-dollar deficits, and his budgets are going to show a path back toward...