Federal Shortfall To Double This Year: Next President To Inherit Deficit Of $500 Billion:A weak economy and a sharp increase in government spending will drive the federal budget deficit to a near-record $407 billion when the budget year ends later this month, and the next president is likely to face a shortfall in January of well over $500 billion, congressional budget analysts said yesterday. In case you missed it: The War On Waste: Defense Department Cannot Account For 25% Of Funds — $2.3 TrillionPublish Post Lehman losses hit world stocks: World stocks have slipped after Lehman Brothers, the fourth largest US investment bank, reported a massive third-quarter loss of about $4 billion. OPEC Production Cut Surprises the Market: In a slap to Saudi Arabia, the cartel's hawks hope a return to 2007 output targets will stabilize oil's price at around $100 a barrel
Thursday, 11 September 2008
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