Word: budgeting
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...exception, though, is Uncle Sam. Even before the financial crisis forced the government's hand, the U.S. had again become addicted to deficit spending - relying on the kindness of strangers (in this case, mainly Chinese and Japanese central bankers) to finance its spendthrift ways. In September the Congressional Budget Office's baseline deficit forecast for 2008 was $407 billion. Now, with the Treasury's massive intervention in support of banks and financial markets ($700 billion at a minimum) and with a second economic-stimulus package a political certainty, the government deficit could soar next year to $1 trillion...
Credit unions aren't shy about having money to lend. Speed's outfit, the 126,000-member Texas Dow Employees Credit Union (TDECU), has been running TV spots since August and is doubling its ad budget for the fourth quarter. (At times, TDECU has been accused of being too aggressive: community banks, which have also been faring relatively well, and the FDIC loudly objected when one ad painted the entire banking industry as "under a dark cloud.") To meet loan demand, TDECU is borrowing from corporate credit unions and the Federal Home Loan Bank of Dallas, but even then...
Keynes' argument was that when private citizens and businesses panicked and hoarded money, the only way to prevent depression was for government to become the spender of last resort. It's certainly acting like that now--the U.S. federal budget deficit may top $1 trillion in the current fiscal year, and everybody in Washington seems to be looking for ways to make it bigger. Federal Reserve Chairman Ben Bernanke backs more fiscal stimulus, and President Bush is on board too. Democratic congressional leaders are thrilled by the prospect. Even the Concord Coalition, founded to battle the big deficits...
...Faust] was being pushed by budget implications, that we might not make it, that we might fail,” but still adopted the task force’s recommendations, Clark said. “This commitment puts us out on a limb and Heaven knows the world will be watching...
...Eugene McCarthy, Vice Presidents Humphrey and Mondale--but insiders disagree. Carleton College's Schier says Minnesota "is actually a quirky populist state. It gave 24% of its vote during the 1992 presidential election to Ross Perot." Ventura's fiscal conservatism--no tax increases, the return of all future state budget surpluses to taxpayers--struck a responsive chord. So did his moderate-to-libertarian views on keeping government from meddling unduly in private lives...