The U.K.’s gross domestic product fell by 0.3% in the final quarter of 2012. A triple-dip recession would be unprecedented, and pile pressure on finance minister George Osborne to spread the pain of government spending cuts over a longer period of time.
As violent crime numbers increase, the Las Vegas Metropolitan Police Department is warning that fewer police officers will be patrolling the valley’s streets.
Clark County officials asked the police department to cut an extra $13 million from its budget, eliminating more than 100 positions, including police officers.
“We are really scrambling,” said CEO Sharon Baughman. “We’ll probably lose funding for about 1,200 meals (this year), which gives you somewhere around 38 seniors who we won’t be able to extend access to.”
Baughman took care to reassure current recipients that their meals aren’t in jeopardy.
“No one is getting kicked out of the program,” Baughman said. “But these cuts will mean we can’t offer as many new applicants a spot.”
Barroso’s comments came just ahead of the release of the EU’s latest budget deficit numbers by the body’s statistics agency Eurostat on Monday. They showed that for 2012, though Europe’s combined deficit level dropped, the overall debt for the 17 members of the EU currency union jumped from €8.2 trillion ($10.7 trillion) to €8.6 trillion. The drastic belt-tightening policies imposed on a number of ailing member states have apparently had little effect.
Cuts to Medicare are driving Utah cancer clinics to turn away patients and refer them instead to hospitals for treatment.
Oncologists say the cuts, ordered April 1 under the recent budget sequester, reduced what Medicare pays them for expensive chemotherapy drugs, making it impossible for them to administer the drugs and stay afloat.
Between 2009 and 2012, Nevada slashed its mental health budget to address deficits, reducing spending by 28 percent.
During that same period, the number psychiatric patients bused out of Rawson-Neal grew 66 percent. By last year, the hospital bused out patients at a pace of well over one a day, shipping nearly 400 patients to 45 states.
Miami’s total debt grew from more than $44 million in 2002 to more than $427 million last year, an 866 percent increase and the fourth-highest debt total in Ohio, while total interest owed grew more than 1,100 percent, before adjusting for inflation. Rising debt levels have funded facility improvements that will eventually cost the university between $600 and $700 million.
The city knocked down 1,172 abandoned structures – single-family homes, strip malls, multi-unit buildings, commercial properties etc. — between 2009 and 2012, using money that included $8 million in federal funds.
The average cost for a demolition, which includes asbestos removal, is $11,000.
The call to study a new levy — contained in the U.S. Department of Homeland Security’s proposed budget for 2014 — is needed to defray increased security costs, proponents say.
However, Michael MacKenzie, executive director of the 70,000-member Canadian Snowbird Association, said Monday that Washington is trying to ease its “desperate financial situation” on the backs of Canadian travellers.
“Banks and agents don’t have much gold left to sell and jewelers are buying at a premium to meet the rise in retail demand,” Kamboj said. “Small and retail investors are buying more coins and bars. Looking at the rate at which people are buying, imports are bound to rise.”
A fifth of UK parents are buying less food for their children due to rising prices with families in the South East hit the hardest.
According to a report from vouchercodes.co.uk, two thirds say they are being forced to spend more on the same food for their children than 12 months ago as prices have rocketed while incomes remain stagnant.
U.S. homebuyers are getting an unexpected boost from the Bank of Japan.
As Governor Haruhiko Kuroda’s efforts to spark inflation by doubling the central bank’s bond purchases shrinks the available debt in his country, traders are betting that will bolster demand for U.S-owned Ginnie Mae’s mortgage securities, pushing up prices and lowering yields that guide home-loan rates.
Triplett said the city’s revenues have dropped by $4 million over the past four years, but pension costs to the city have gone up by $2 million.
Now the city does not have enough money to pay employees what they were promised for retirement.
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