The deficit will grow to Sh607.8 billion from Sh559 billion this year, which means that the government will be forced to borrow more to plug the shortage.Most of the money will go to running of the government after Sh1.7 trillion was set aside for recurrent expenditure, which finances salaries, fuel for cars, stationery and refreshments.
Treasury plans to spend Sh551 billion in interest payments for loans and pension.
Damon Dozier, director of government relations and public policy at the Washington, D.C.-based National Minority AIDS Council, would allocate large chunks of his imaginary $40 billion HIV budget to prevention and research programs, but medical treatment and support programs through the Ryan White Act, Medicaid, and Medicare would get slightly more than half of his total funds.
That's precisely what prompted Dozier to devote $6 billion of his budget to Ryan White programs, with $1 billion of that earmarked for the AIDS Drug Assistance Program, which provides free antiretrovirals to uninsured and underinsured HIV patients.
ExpressJet Airlines reported for its second-quarter for the three months ended June 30, RPMs were up 21.4% to 2.7 billion while ASMs rose 11% to 3.3 billion, sending load factor up 6.9 points to 81%.
Pinnacle Airlines flew 1 billion RPMs in the quarter, up 2%, with ASMs dipping 8% to 1.3 billion.
"It calls for spending more than $6 billion for replacing fighter aircraft that already are the best in the world." Other procurement items are equally unnecessary, he says.
Defense Secretary William Cohen announced that the Administration would spend $6.6 billion over the next five years on a national missile defense system to guard against intercontinental ballistic missiles (ICBMs).
The leadership initially hoped to cut $100 billion
by 2000, but eventually settled for reducing expected Federal outlays by $80 billion
, with average savings of $16 billion
per year -- numbers that may have been more thoroughly massaged by the time you read this.
At the time of its demise, the FSLIC was in the red by approximately 87 billion
, according to the General Accounting Office.
The unctuous-looking salesman in the magazine ad offers the reader a bottle labeled "Securities Transaction Excise Tax." The advertiser is Merrill Lynch, and the accompanying text warns that such a new tax on stock and bond trades "could have a very damaging effect on the financial markets and the economy." Merrill Lynch says that the tax's side effects would include "a $25 billion
reduction in the Gross National Product" and "a 250,000 person increase in unemployment." In a similar effort, Anheuser-Busch is running TV ads suggesting that increasing the tax on beer would destroy all those golden moments featured in its regular commercials.
Out of the total Rs 416 outstanding billed and un-billed GIDC the government will waive off half or Rs 208 billion
to fertilizer, IPPs, industries, Gencos /K-Electric, captive power and CNG sectors, official document revealed.