From ChrisMartenson.com | Daily Digest 3/14
L.A. school board to consider millions of dollars in budget cuts
The Los Angeles Board of Education is expected to vote Tuesday on a worst-case $6-billion budget that would eliminate thousands of jobs, close all of the district’s adult schools and eliminate some after-school and arts programs, among a slew of other reductions.
The budget plan could change, and even if it is approved by the school board, a final version of the budget most likely is months away. But the nation’s second-largest school system is under pressure to pare more than $390 million from the budget for next year.
National Weather Service Facing Possible Budget Cuts
The National Weather Service is facing a different kind of storm. It’s not a hurricane or tornado, but instead a proposed budget cut of $39 million dollars. The government agency that issues daily forecasts, in addition to severe weather warnings, could have their budget cut by as much as four percent.
More than 800,000 Oregonians received food stamp benefits in January
More than 800,000 Oregonians relied on food stamps to put meals on the family table in January, the highest number ever. A report released Monday by the Oregon Department of Human Services shows 800,785 people –or 22 percent of Oregonians –received help in January from the state-federal Supplemental Nutrition Assistance Program. That reflected a 5.9 percent increase from January 2011.
Fed holds rates, says inflation rise is temporary
The Federal Reserve on Tuesday kept its interest rate target between 0% and 0.25% — as it has since Dec. 2008 — as the central bank said a rise in oil and gasoline prices will only “temporarily” push up inflation. Inflation will then run at or below the rate most consistent with its dual mandate, the central bank said. The Fed also maintained its Operation Twist program of shifting short-term bonds into longer-dated securities and reiterated the need to keep rates exceptionally low through at least 2014.
This series of articles was originally posted at http://www.chrismartenson.com/blog/daily-digest-314-dot-looking-borrow-more-austerity-needed-greece-spain-looks-cut-health-educati
