Thursday, May 16, 2002

Red Handed: THE DEFICIT GETS WORSE, AND SO DOES BUSH "The latest in what has become a steady stream of bad budgetary news arrived last Friday, when newspapers reported that this year's deficit is estimated to be about $100 billion--twice as large as previous forecasts had suggested." 2:16:57 PM  Google It!  comment  []

Personal bankruptcy filings up 15.2 percent in 12-month period, fueled by strong spending "Bankruptcy filings by American consumers jumped 15.2 percent in the 12 months ended March 31, fueled by the strong spending that helped make the recession shallow, the government said Thursday." "Personal bankruptcies hit a record 1,464,961 during the period, up from 1,271,865 in the 12 months ending March 31, 2001, the Administrative Office of the U.S. Courts reported." 1:53:19 PM  Google It!  comment  []

States' Vast Budget Gaps Bring Higher Fees and Emergency Cuts "Faced with a large, unexpected drop in income-tax revenue, states across the country are trying desperately to plug wide budget gaps in ways voters can abide in an election year." "Some are raising cigarette taxes and various fees. Some are cutting spending on the edges or using bookkeeping devices to make the deficits go away. A few have taken drastic measures to avoid raising sales or income taxes or cutting popular programs like education." 8:51:50 AM  Google It!  comment  []