Word: budgeting
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...Treasury is also active in ways it wasn't during the Depression. Back then, conventional wisdom held that the government should try to run a balanced budget in a crisis, even if that meant cutting welfare spending and raising taxes. A generation of economists inspired by John Maynard Keynes taught us that this is precisely the wrong thing to do. Government deficits in a recession are good, the Keynesians argued, because they stimulate demand. The Bush Administration, which ran substantial deficits in the boom years, looks set to run an even larger deficit...
...Instead, stimulus is quickly becoming the order of the day. Taiwan recently unveiled a $5.6 billion spending package for its sagging economy that included subsidized mortgages and new infrastructure projects. Japan's Cabinet on Sept. 29 proposed a $17 billion supplementary budget to help ease the burden of high energy and food prices on businesses. Newly installed Prime Minister Taro Aso is also calling for tax cuts to boost domestic demand. "Rebuilding the Japanese economy is an issue of utmost urgency," Aso said in his first policy speech. China, which could see its GDP growth rate fall below 10% next...
...that Alaskan Governor Palin would be just the person to help do for America what she has done for Alaska and Wasilla: increase revenues, decrease spending, tax windfalls and ensure greater dividends are returned to her present constituents. So what if she has found only 2% of Alaska's budget to be pork? No one else was looking. In Palin, America just may have a Vice President who knows how to exploit the national government's bureaucracy and lawmakers in favour of her constituents, and such a change, it seems to me, would be about time. Peter Nortje, CAPE TOWN
...fallen from 3% to 2.8%, and will fall further this year to 2% ... Looking ahead to 2008 and 2009, inflation will also be on target. And we will never return to the old boom and bust." Thus Gordon Brown, as Britain's Chancellor of the Exchequer, in his Budget statement only last year. No Chancellor since the war has quite so disastrously misread the economic situation, or so fundamentally misunderstood the inescapable nature of market economies - namely, that the greater the binge, the greater the hangover. Today, Britain is on the brink of recession, inflation has jumped...
...Clearly there is going to be great competition for all federal expenditures,” he said. “And we hope those that can be defended as building a foundation on which educational growth might foster, like education and research, might be successful even in a constrained budget...