SPENDING - The Salt Lake Tribune

A rosier short-term

Tue, 14 May 2013 01:01:04 MDT

A rosier short-term

By XXXXXX The Salt Lake Tribune

Updated May 14, 2013 01:01AM MDT

Good news from the fiscal front: The federal deficit is shrinking faster than expected. During the first half of fiscal 2013, revenues have come in greater than forecast, and spending, less; Goldman Sachs expects the total deficit to equal 4.8 percent of gross domestic product (GDP), rather than 5.6 percent as the investment bank once believed. Also, Goldman says the deficit will decline to 2.7 percent of GDP by fiscal 2015, as opposed to 2.8 percent, as previously estimated. These numbers refl...

Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

U.S. retail sales rise in April on cars, clothing

Mon, 13 May 2013 13:02:22 MDT

U.S. retail sales rise in April on cars, clothing

By MARTIN CRUTSINGER The Associated Press

Updated May 13, 2013 01:02PM MDT

WASHINGTON • Lower-priced gas allowed Americans to step up their spending at retailers in April, from cars and clothes to electronics and appliances. The rebound from a weak March suggests consumers remain resilient in the face of higher taxes and could continue to drive economic growth this spring. Retail sales edged up 0.1 percent in April, the Commerce Department said Monday. That’s an improvement from a 0.5 percent decline in March, the largest drop in nine months. The April gain was stronge...

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Hunt: Obama’s budget cuts put onus on Ryan

Mon, 13 May 2013 11:36:02 MDT

Hunt: Obama’s budget cuts put onus on Ryan

By Albert R. Hunt Bloomberg View

Updated May 13, 2013 11:36AM MDT

WASHINGTON - When it comes to deficit reduction, President Barack Obama may have correctly taken the measure of Alan Simpson and Erskine Bowles and U.S. corporate leaders; that’s a reason why any deficit deal is more remote than ever. Two and a half years ago, when the president refused to embrace the recommendations of his own deficit-reduction panel, he was criticized by the authors, Bowles, a former chief of staff to President Bill Clinton, and Simpson, a former Republican senator from Wyomin...

Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

U.S. medicine spending shows rare dip in 2012, agency says

Thu, 09 May 2013 21:46:58 MDT

U.S. medicine spending shows rare dip in 2012, agency says

By LINDA A. JOHNSON The Associated Press

Updated May 9, 2013 09:46PM MDT

Trenton, N.J. • Spending on prescription medicines in the U.S. fell for the first time in decades last year, slipping as cash-strapped consumers continued to cut back on use of health care services. Patients also benefited from a surge of new, inexpensive generic versions of widely used drugs for chronic conditions like high cholesterol, according to a new report. Total spending on medications dipped 1 percent, to $325.8 billion last year from $329.2 billion in 2011. Likewise, average spending ...

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Liberals and debt

Wed, 08 May 2013 01:01:04 MDT

Liberals and debt

Updated May 8, 2013 01:01AM MDT

Congratulations to Russell Fericks for coming to the obvious conclusion in “Even liberals should worry about national debt” (Opinion, May 4) that servicing the expanding national debt will crowd out other spending and is not sustainable. Fericks proposes that a conversation about a solution for our debt must begin. By his pejorative reference to the “regressive economics of neocon fiscal fanatics and tea party nutcases,” I assume he does not believe that reduced spending and smaller government...

Interior secretary: Cuts hurting mission of national parks

Tue, 07 May 2013 22:26:56 MDT

Interior secretary: Cuts hurting mission of national parks

By Thomas Burr The Salt Lake Tribune

Updated May 7, 2013 10:26PM MDT

Washington • Interior Secretary Sally Jewell told a Senate committee on Tuesday that the automatic spending cuts now hitting her budget are distracting the department from carrying out its mission. “I know it’s not where you want us to go; it’s not where we want to go,” Jewell told the Senate Appropriations subcommittee. “It’s very, very difficult,” Jewell continued. “It’s hard on employees who are hard working, to all the things that you care about as well. They’re really taking it on the chin....

Krugman: The Chutzpah Caucus

Tue, 07 May 2013 01:01:04 MDT

Krugman: The Chutzpah Caucus

By PAUL KRUGMAN The New York Times

Updated May 7, 2013 01:01AM MDT

At this point the economic case for austerity — for slashing government spending even in the face of a weak economy — has collapsed. Claims that spending cuts would actually boost employment by promoting confidence have fallen apart. Claims that there is some kind of red line of debt that countries dare not cross have turned out to rest on fuzzy and to some extent just plain erroneous math. Predictions of fiscal crisis keep not coming true; predictions of disaster from harsh austerity policies h...