By his agency's calculations, that is enough to account for $600 billion, or 15percentt, of the $4 trillion decline in the expected surplus.
The plan suggests they would like to tap much of the state's expected surpluses and comes as Governor Jerry Brown, a Democrat, prepares his initial budget plan for the 2014-2015 fiscal year beginning next July.
"That includes use of $50 million of an expected $200 million surplus for the year 2000 with which to create a Housing Trust Fund, and a $20 million Affordable Housing Incentive Fund," said Representative Flaherty, the commission's co-chairman.
Most economists still expect a surplus for the year as a whole, but a much reduced one of perhaps 1% of GDP, down from a peak of 4.8% in 2007.Japan has had a current-account surplus in every year since 1981, because of a surfeit of domestic saving over investment.
Mrs. Clinton, laying out one of her most detailed plans for the budget surplus since entering the New York Senate race, proposed mandatory "debt-reduction caps" that would make it more difficult for Congress to use expected budget surpluses for cutting taxes or paying for new programs.
We find a good model fit, both with respect to the predictions for expected telephony usage and for expected consumer surplus under a given tariff.
This doctrine reflects the fact that contracting parties will include a duty of reasonable mitigation in their agreements ex ante, in order to maximize the expected contractual surplus available for them to share.
Washington may also contribute to the upbeat mood on Wall Street this morning, as President Clinton is set to announce that the strong U.S. economy has produced a larger than expected budget surplus of $76 billion for fiscal year 1999, according to CNN.
Divorce is associated with low expected marital surplus, low emotional stability for women, and male extroversion.
