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2003

News
  1. -10-20-03 Largest Federal Deficit in History (USAToday.com)
      "The federal budget deficit topped $374 billion in 2003, the White House said Monday. It was the largest dollar amount on record, driven up by the slow economy, spending on the Iraq war and major tax cuts." 10-03

  2. 01-03-04 Bush to Cut Domestic Spending (Bloomberg.com)
      "President Bush's budget, which will be sent to Congress by Feb. 2, will include several tax cut proposals, including new measures to promote individual savings and tax credits to help uninsured people buy health insurance, the newspaper reported."

      "The president's budget plan for the fiscal year starting Oct. 1 also includes measures to control the rising costs of housing vouchers for the poor, require veterans to may more for some medications and eliminate some job training programs, the Times said." 1-04

  3. 09-05-03 Payrolls Plunge but Unemployment Rate Edges Down (USAToday.com)
      "The number of workers on U.S. payrolls outside the farm sector slid 93,000 in August after dropping 49,000 in July. Economists had epxected a modest increase."

      "But according to a broader survey of U.S. households, the overall unemployment rate fell from a seasonally adjusted 6.2 percent to 6.1 percent of the labor force."

      "Labor Department analysts believe the survey of businesses provides a more reliable picture of the jobs market than the household survey." 9-03

  4. 09-15-03 World Trade Organization Talks Fail (CBS News)
      "Talks designed to change the face of farming around the world collapsed Sunday amid differences between rich and poor nations, the second failure for the World Trade Organization in four years." 9-03

  5. 09-15-03 World Trade Organization Talks Fail (CBS News)
      "Talks designed to change the face of farming around the world collapsed Sunday amid differences between rich and poor nations, the second failure for the World Trade Organization in four years." 9-03

  6. 10-01-03 Jobless Recovery Examined (CBS News)
      "Companies have slowed the pace of layoffs, but have broken with previous economic rebounds by not boosting their hiring plans, the Labor Department said Tuesday." 9-03

  7. 11-25-03 Congress Approves Remake of Medicare (Bloomberg.com)
      "The U.S. Senate voted 54-44 to approve Medicare's biggest expansion in history, a bill designed to help the elderly pay for medicines and test competition between private and federal health insurance."

      "The legislation would help 41 million elderly and disabled Americans pay for prescriptions at pharmacies, expanding sales for drugmakers including Pfizer Inc. and Merck & Co." 11-03

Papers
  1. Budget Deficit and the Aging Population (USA Today)
      "When deficits started taking off 20 years ago, the retirement of the baby boom generation was just a distant worry. Now, as the nation faces years of red ink, including at least a $400 billion shortfall in 2003 alone, the graying population is a fast-approaching reality that will put unprecedented strains on Medicare, Social Security and the economy starting around 2010."

      "While recent advances in productivity are expected to help the nation cope with the bulge in retirees, the reduced workforce, possible slowing of immigration and huge new fiscal burdens mean that, unlike the 1990s, the nation could have a tougher time growing out of new budget problems, economists say."

      "At the same time, by locking in years of deficits, lawmakers and the White House are reducing national savings and putting upward pressure on interest rates. That could limit their flexibility to increase taxes, issue bonds or take other steps to reform the massive health and retirement programs while forcing deeper benefit cuts." 2-04

   
   


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