The Congressional Budget Office on Tuesday downgraded its estimate of the benefits of President Obama's 2009 stimulus package, saying it may have sustained as few as 700,000 jobs at its peak last year and that over the long run it will actually be a net drag on the economy. CBO said that while the Recovery Act boosted the economy in the short run, the extra debt that the stimulus piled up "crowds out" private investment and "will reduce output slightly in the long run - by between 0 and 0.2 percent after 2016.
BELLBROOK -- The city's first run at the 2009 calendar year tax budget shows a projected deficit of roughly $700,000, but city officials say they took a conservative approach in budgeting and have plenty of carryover funds to cover a shortfall. The early budget estimate projects 2009 receipts at $6.1 million and expenditures at $6.8 million. Acting City Manager R. Michael Puckett, who has also served as city manager in Sidney and Xenia, said the city's carryover will be about $3.5 million, which he called "a healthy amount, and a big part of that is for capital improvement.
It's not as bad as it looks, state officials said Friday regarding the budget outlook for the 2009 legislative session. The estimate for Fiscal Year 2010 is $309.6 million lower than the estimate for the current fiscal year - a decline of 4.4 percent. According to the December estimate, lawmakers will have $6.8 billion to spend during the upcoming session. Given the current national economic climate, Oklahoma is in better shape than most states across the country, many of which are facing double-digit budget shortfalls," said House Speaker Chris Benge, R-Tulsa. "The numbers presented today show that we will have to tighten our belts next fiscal year. We will continue to be mindful of the revenue picture as we start to develop our legislative priorities for the next session to ensure th...
A sharp decline in corporate income tax collections accounts for much of the budget shortfall this year. The corporate income tax estimate for Fiscal Year 2009 is nearly 40 percent lower than the estimate for FY 2008, a drop of more than $178 million. In December, the state Board of Equalization estimated there would be $7.06 billion available for lawmakers to spend during the 2008 legislative session for the fiscal year that begins July 1 and ends in June 2009. On Tuesday, the Equalization Board revised its certification for Fiscal Year 2009, finding lawmakers have $6.92 billion to spend this session - $146 million less than lawmakers expected to have for this year and $113 million less than they had available to spend last year.
The Department of Energy (DOE) is submitting to the Office of Management and Budget (OMB) for clearance a proposal for collection of information under the provisions of the Paperwork Reduction Act of 1995. The proposed collection will support a National Evaluation of DOE's State Energy Program (SEP) for the year 2008 (pre-American Recovery and Reinvestment Act of 2009 (ARRA) funding) and the years 2009-2011 (ARRA funding). A 60-day notice and request for comments was published in the Federal Register on July 7, 2011 (76 FR 39860). One set of comments was received in response that notice. Those comments noted the responding organization's concern with environmental issues, its past support for a long-term national energy strategy, and its belief that increased energy efficiency and use o...
...; (b) the accuracy of the Department's estimate of the burden of the proposed collection of inform...
The economy grew for the third straight quarter in the first 3 months of 2010, following a year and a half of nearly steady contraction. Financial as well as economic conditions have improved, and as evidence of more broad-based activity, final sales have grown for four straight quarters. Labor market conditions improved as payroll jobs increased during the first quarter of this year for the first time since the final quarter of 2007. Although the labor market is stabilizing, the unemployment rate remains very high and recovery in employment this year is likely to be slow. Economic conditions continued to improve in the first quarter of 2010. According to the Advance estimate, real gross domestic product rose by 3.2% at an annual rate, following a 5.6% gain in the fourth quarter of 2009...
...Federal Budget. The federal budget deficit widened to $1.4 trilli...
... was about 280 parts per million (ppm); in 2009 it was 386.3 ppm. (1) From 2000 to 2007 the growth... emissions in CO2 equivalents include estimates of GHG releases based on changes in land use. (97)...2454 are estimated by the Congressional Budget Office to be $821 billion over 2010-2019. (150) Th...
Money market rate premiums have been high and volatile. The difference between money market rates and central bank key rates has been the widest since the international financial turbulence started in August last year. Norwegian money market rates increased sharply after international risk premiums spilled over into the Norwegian market. Foreign exchange markets have also been volatile. Investors have shown interest in the large and most liquid currencies. Growth is also slowing in the Norwegian economy. Household consumption has stagnated and house prices are falling. Monetary policy in Norway is oriented towards annual consumer price inflation of close to 2.5% over time. In recent years, inflation has on average been somewhat lower, but fairly close to 2.5%. A deep and protracted glob...
... between 3% and 4% in the period to summer 2009 (see Chart 1.13). The high rate of increase in con... where it is very difficult to estimate the probability of different outcomes. In such dec...In the National Budget for 2009, the structural, nonoil budget deficit fo...
...(PSAF) for 2009 of $62.2 million and the 2009 fee schedules for Fe... associated with clearing balances to estimate net income on clearing balances (NICB). From 1998 ... 2007, 2008 estimated, and 2009 budgeted cost- recovery rates for all priced services. Cost...
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