Word: fiscality
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...evaluate existing plans before adding new ones. But it isn't just officials in Berlin who might spend time in Halle seeing what an injection of money can and can't do to a local economy. Governments from the U.S. to China - anyone who believes that opening the fiscal spigot can stave off disaster, and especially those who think that public spending can polish up rustbelt cities like Detroit or Harbin - would be advised to take some east German lessons. (See pictures of Detroit's decline...
...symbolic measure will have on Stanford’s finances—the university’s endowment valued at $17 billion as of June 2008 is expected to suffer at least a 30 percent decline—but Hennessy earned roughly $700,000 in salary and benefits in fiscal year 2007 according to federal tax filings...
Harvard’s tax returns for the fiscal year ending June 30, 2008, detail over $4 million in compensation for top administrators, a figure likely to draw close scrutiny over the coming months, as the University implements deep budget cuts...
...difficult for future governors and legislatures to enact budgets that meet California's needs and address state priorities" and "could lock in a reduced level of public services by not taking proper account of the state's changing demographics and actual growth in costs." The Legislative Analyst wrote, "The fiscal effects of Proposition 1A are particularly difficult to assess...
...state's overreliance on income taxes can push the state's finances quickly into the red. Whatever the outcome of Tuesday's vote, Californians are bracing for sharp cuts in programs and services from their state government - and they will have to figure out how to recover from this fiscal earthquake...