US pension agency posts $23.3B deficit
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The government agency that insures the private pensions of 44.4 million workers said Monday that its deficit more than doubled in 2004 to a record $23.
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The federal agency that insures pension plans said that its deficit, already at the highest in its history, had doubled in its last fiscal year, to $23.3 billion.
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The White House will estimate on Wednesday that the U.S. budget deficit for fiscal year 2007 will come in at $205 billion, a drop from last year, U.S. administration officials said.
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With its $23 billion shortfall double any previous deficit, the government&#39;s Pension Benefit Guaranty Corp. needs fixing -- fast.
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In one of its gloomiest forecasts yet, the Independent Budget Office projected a $3.1 billion budget deficit in the 2009 fiscal year, rising to $4.6 billion in 2010 and $6.3 billion in 2011.
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Onge and John Hughes. The Pension Benefit Guaranty Corp., the federal agency that protects retirement plans for more than 44 million workers, said Monday that its deficit more than doubled to $23.
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The Cablevision Systems Corporation, the countryâs third-largest cable operator, reported a loss of $23.9 million last quarter.
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Facing record budget deficits, the Bush administration likely will turn to short-term government borrowing to help finance its plan to add personal retirement accounts to Social Security, officials said on Saturday.
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Yukos has paid three-quarters of its total tax debt of $3.4bn (Â£1.91bn; 99bn roubles) for 2000, the Interfax news agency has reported.
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The U.S. government agency that insures corporate pensions will run out of money in 2020 if current financial conditions persist, imperiling the checks of millions of retirees, a new independent study shows.
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The US Federal Reserve slashed its key federal funds short-term interest rate by three quarters of a percentage point to 3.50 percent Tuesday amid sharp falls on global stock markets.
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The federal budget deficit will balloon to $2.29 trillion over the next decade, a worse outlook than previously forecast according to a new report by congressional analysts, a congressional source with knowledge of the numbers said
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WASHINGTON - The Congressional Budget Office projected Tuesday that this election-year's federal deficit will hit a record $422 billion, a shortfall that would be smaller than analysts predicted earlier this year.    The figure immediately provided political fodder for both parties now in the final two-month stretch of the presidential and congressional campaigns...
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Americans are right to be concerned  about the long-term impact of budget deficits projected to  reach $2.3 trillion over the next decade, but there is little  near-term danger of an economic catastrophe, the head of the  Congressional Budget Office said on Tuesday.
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The U.S. government agency that  insures corporate pensions will run out of money in 2020 if  current financial conditions persist, imperiling the checks of  millions of retirees, a new independent study shows.
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WASHINGTON -- The federal budget deficit would have been 69 percent higher than the $162.8 billion reported two months ago if the government had used the same accounting methods as private companies, the Bush administration reported Monday.
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CRAWFORD, Texas  - Facing record budget deficits,  the Bush administration likely will turn to short-term  government borrowing to help finance its plan to add personal  retirement accounts to Social Security, officials said on  Saturday.