Word: budgeting
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...causing alarm, though, the rising deficit is viewed by policymakers and economists as a necessary evil to keep the economy afloat. "There is a real threat of a serious recession," says Robert Bixby, head of the Concord Coalition, an organization dedicated to eliminating deficits and shoring up the federal budget. "So it's appropriate in those circumstances to loosen fiscal policy, so long as it is done on a targeted and temporary basis...
...some point, most economists argue, the U.S. will have to balance its budget and repay what it has borrowed to fund the spending spree. That will most likely mean reducing outlays and raising taxes in the future. But neither presidential candidate can convincingly argue that a balanced budget is possible in the next few years. Both are advocating economic programs that will probably increase the deficit even more. Republican candidate John McCain is calling for some $52 billion in economic recovery spending, while Democratic candidate Barack Obama's plan would cost roughly $175 billion. Both McCain and Obama have vowed...
...progressive Catholics to create their own infrastructure after 2004. When two young graduate students first launched Catholics United, they had $1,000 in seed money and were operating out of a dorm room. Four years later, the nonpartisan organization has more than 30,000 members and a $200,000 budget. This month they are sending a direct mail piece titled "What Does Being Pro-Life Really Mean?" to 50,000 Catholic households in Pennsylvania and Ohio. The same message is plastered across billboards in heavily Catholic swing states...
...year ago, the Congressional Budget Office estimated the cost of funding the Iraq and Afghanistan wars from 2001-2017 to be around $2 trillion, or more - factoring in some $705 billion in interest payments in recognition of the fact that the war is being funded with borrowed money. (Nations typically increase taxes in order to finance protracted military conflicts; the Bush Administration, having cut taxes, has had to rely on the credit of others to wage its wars.) The current credit crisis and economic slowdown will considerably raise the pressure on the U.S. national debt, which had already grown from...
...mortgage rates means that the average borrower will pay $1,296 a month in mortgage payment for a $200,000 loan. That's $100 more a month, and $1,200 more a year, than the same loan would have cost them a few weeks ago. For buyers on a budget, that means they can afford less house for the same amount of money. Conversely, sellers would have to drop their prices to attract that same buyer...