The budget includes increased spending for Head Start, the preschool program for poor children, and reduced outlays for student loans.
Less cold weather would mean less snow shoveling, fewer days of driving on icy roads, lower heating bills, and reduced outlays for clothing.
Since about half of the $500 billion stems from reduced outlays for Medicare hospitalization expenses, the payroll taxes and those reductions would add about $358 billion to Medicare trust fund balances.
As reported previously, the GOL had initially pegged its 2009 national budget (now being debated at the session of the General People's Congress currently underway) to a price per barrel of USD 65; however, it recently re-calibrated the budget and significantly reduced outlays on some development projects to reflect sagging oil prices.
However, the short term effect of their reduced outlays will put downward pressure on GDP growth.
The two largest, most important, and most active European military powers, France and the United Kingdom, reduced outlays in real terms.
Some subsidy reforms, especially in the 1980s and 1990s, reduced outlays, but attempts were often reversed after meeting resistance (sometimes violent) or rolled back in the face of large commodity price swings.
This latter figure, however, is somewhat overstated due to transfers to the Treasury from Fannie and Freddie, counted as reduced outlays, but not really fiscal drag in the sense of less spending on activities that would promote growth; still, even without those remittances, we'd be looking at an unusually austere year (I also had to estimate 2013q4 GDP since it's not out yet).
… You get credit for taking action to reduce outlays, without antagonizing all the people who get upset when you actually reduce outlays".
Some families are responding by adding more money, she said, but others see no choice but to reduce outlays.
