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U.S. spending obligations surge - Yahoo! News Primary Navigation Home U.S. Business World Entertainment Sports Tech Politics Elections Science Health Most Popular Secondary Navigation Video Photos Opinion Local News Odd News Comics Travel Weather 60 Minutes You Witness News Site Index Search: All News Yahoo! News Only News Photos Video/Audio Advanced U.S. spending obligations surge By Gail Russell Chaddock Tue Aug 5, 4:00 AM ET Washington - The Democratic-controlled Congress and the Bush administration have presided over a surge in legacy hotel in panama new federal spending obligations that may be the most enduring legacy of the 110th Congress. From new entitlements such as a GI bill for military veterans to recent federal commitments to shore up a troubled housing market, Washington is taking on obligations with long-term consequences for taxpayers. At the same time, critics say, lawmakers aren't exercising the oversight needed to keep these commitments manageable. "In the last three or four months, the momentum has really built up for more spending," says Michael Franc, vice president of government relations for the Heritage Foundation, a conservative think tank in Washington. "Congress has moved a whole range of bills that take the problem up another notch." Here are some of the items. •A new housing law, signed last week, commits the government to backing some $300 billion in troubled mortgages. •A higher education bill adds $169 billion over the next five years. •The GI bill that extends education benefits to veterans or their family members will cost $62 billion over 10 years. •Congress boosted the statutory debt ceiling by $800 billion to $10.6 trillion. That's $4.8 trillion more than it was at the end of 2001. Moreover, last week the White House Office of Management and Budget (OMB) projected the US budget deficit for the next fiscal year to be $482 billion, the largest deficit in US history in nominal terms. Relative to the size of the US economy, the deficit would make up 3.3 percent of the gross domestic product. OMB director Jim Nussle noted during the July 28 mid-session review that, in those terms, the projection is "well below the record deficit of all time, which was 6 percent of GDP back in 1983." "The important point to remember is that near-term deficits are both temporary and manageable if, and only if, we keep spending in check, the tax star trek legacy all levels cheat burden low, and the economy growing," Mr. Nussle said. "Excessive spending beyond the president's budget plan will make the problem worse." Congress has yet to approve even one of the must-pass annual spending bills for the fiscal year that begins Oct. 1. Democratic lawmakers blame the soaring deficit on the Bush tax cuts, especially for people legacy kensington crib with the highest incomes. "Mr. Bush came to office with the biggest surpluses in history and he will leave office with the biggest deficits in history. That's the bottom line," said Rep. John Spratt Jr. (D) of South Carolina, chair of the House Budget Committee, on July 28. One reason for the surge in red ink is the joint decision by Congress and the Bush administration in February to pass an economic package, including stimulus checks for most American families. If that plan had not been passed, the legacy spaces projected deficit for the current fiscal year would be $117 legacy films billion lower than the estimated $389 billion, Nussle said. Congress and Mr. Bush agreed that "getting the economy back on track was a higher priority than immediate deficit reduction," he added. But these record-high estimates don't capture some new programs Congress has approved recently, such as the housing bill, or a rollback of cuts in entitlement programs, such as last month's mandated cuts to doctors treating Medicare patients. Defying a presidential veto, Congress put off a 10.6 percent cut in payments to doctors in the Medicare program, which had been slated to take effect July 1. The cuts were intended to ensure that Medicare costs could be sustained in the long term. Before leaving for August break, Congress also passed a rewrite of the Higher Education Act that increases the maximum Pell grant for low-income students to $8,000 a year by 2014, up from $4,800, and extends the grants to part-time students. College costs have tripled in the past

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20 years, and lawmakers said they wanted to help families catch up. Critics roman legacy say the bill, at $169 billion over the next five years, is a budget buster that didn't get enough scrutiny in an election year. On Sept. 18, the House Financial Services Committee will open a hearing on whether government must do more to ensure that lenders have the capacity they need to make loans to students. The law also bans the US Department of Education from imposing mandates on colleges and universities, including testing to measure student progress along the lines of the No Child Left Behind Act. It's hard to put a price tag on recent US support for the housing market. If the market recovers, the cost to taxpayers would be zero, according to a Congressional Budget Office estimate of the housing-rescue law. But if the market worsens, this new commitment could cost taxpayers at least $25 billion before legacy select vanity the authority expires in December 2009. On July 14, the Bush administration authorized the Treasury legacy of the seadog to purchase obligations and securities of government-sponsored enterprises that deal with housing (Fannie Mae and Freddie Mac, and the federal home loan bank) – a potential commitment that's even tougher to estimate. "Congress didn't get into this by choice," says Sen. Christopher Dodd (D) of Connecticut, who chairs the Senate Banking, Housing, and Urban Affairs Committee. "The Bush administration failed in its oversight." Email Story IM Story Printable View RECOMMEND THIS STORY Recommend It: Not at All Somewhat Moderately Highly Very Highly Average (Not Rated) » Recommended Stories Top Stories US: Ivins solely responsible for anthrax attacks legacy real estate AP Split verdict in first Guantanamo war-crimes trial AP Israel mulls military option for legacy sti Iran nukes AP Gasoline costs, energy rivet candidates' attention AP Jury seated in montelongo legacy lawsuit against Osteen's wife AP Most Viewed: Top legacy meridian hospital Stories Paris Hilton strips down to reveal "hot" energy plan Reuters Japan's females are longest living in world Reuters Fiscal 2008 budget deficit seen about $400 billion Reuters Mauritania junta battles tide of diplomatic outrage Reuters DVD release of "The Deal" shocks director Frears Reuters Top Stories Video First Guantanamo trial ends in split verdict AP - Wed Aug 6, 6:15 PM ET Survivor

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airlifted bushnell legacy 8x24 compact binoculars off K2 Australia 7 News - Wed Aug 6, 3:37 PM ET Teen may have plotted presidential legacy accessories assassination AP - Wed Aug 6, 4:25 PM ET Journey for Change CNN - Wed Aug 6, 4:15 PM ET New battlegrounds for McCain and Obama As Bush launches farewell tour, Europe warms up South Korea's beef protests: Lee's woes legacy of martin luther king jr deepen Facing inflation, Asia gets more aggressive Zimbabwe's campaign of violence escalates Top Stories Video First Guantanamo trial ends in split verdict AP Survivor airlifted off K2 Australia 7 News » All news video News Search Related Searches: Sen. Christopher Dodd White House Office of Management and Budget Rep. John Spratt Jr OMB director Jim Nussle Yahoo! News Topic Pages In-depth coverage of topics such as Iraq and the United Nations. Elsewhere on the Web The Christian Science Monitor: In Iraq, troops balance fighting and lending a hand ABC News: Michelle Obama: Barack Is No Elitist McClatchy Newspapers: After suicide, legacy village oh prosecutors reveal circumstantial anthrax case Good Morning Yahoo! Bumper sticker road rage Play What kinds of car decoration to look out for See today's talked-about videos Add headlines to your personalized My Yahoo! page (About My Yahoo! and RSS) Top Stories - The Christian Science Monitor Add to My Yahoo! » More news feeds NEWS ALERTS Get an alert when there are new stories about: Congressional Budget Office estimate Sen. Christopher Dodd White House legacy super satellit speakers Office of Management and Budget Rep. John Spratt Jr OMB director Jim Nussle » More alerts Yahoo! - My Yahoo! - Mail Search: All News Yahoo! News Only News Photos Video/Audio Advanced Primary Navigation Home U.S Business World Entertainment Sports Tech Politics Science Health Travel Most Popular Odd News Opinion Copyright © 2008 The Christian Science Monitor

State College Business | Centre Daily Advertisement Login Register Logout Edit Acct. Subscribe search CentreDaily.com Archives Web for Web Search powered by YAHOO! SEARCH Homepage Local News Crime & Courts Obituaries Pennsylvania Nation World Weird News Contact Us ShopLocalRetailers Sports Golf High School Preps MLB NFL NHL NBA 2008 Olympics Racing Spikes Soccer Women Penn State Alumni Athletics Alamo Bowl Sports CDT BlueMag Community Bald Eagle Bellefonte Penns Valley Philipsburg-Osceola State College Business Technology Bits of Business Real Estate Transfers Public Notices Market Summary Entertainment Celebrities Comics & Games Horoscopes Trailers & Showtimes T.V. Shows T.V. Listings DVD's Weekender Calendar Living Announcements Body & More Books Fashion Fathering Food Goodlife Health & Science Home Travel Wedding Opinion BLOGS Discussion Boards Politics Congressional Race Your Turn Classifieds Jobs Cars Real andrew jackson s legacy Estate Apartments ShopLocal CDT HotBuys Advertise Coupons Free Grocery Coupons Photos Buy Photos Business-Technology email AIM Print tool name close tool goes here Tuesday, Aug. 05, 2008 Amentra Continues Momentum with BPM, Legacy Modernization and Open Source RICHMOND, Va. — Amentra, an industry leading business and technology consulting firm, today announced that they have been listed as a sample vendor for Legacy Application Modernization Services subaru legacy road test and Business Process Management (BPM) in Gartner Inc.'s recently released "Hype Cycle for Consulting and Systems Integration, 2008(1)

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report." Amentra was also listed in the Hype Cycle for Open-Source Software, 2008.(ii) According to legacy homeschool resources the Gartner report on consulting and systems integration, "Legacy modernization services are the (consulting and system integrator (C&SI)) services that organizations use to help them gain higher levels of efficiency and effectiveness. Legacy modernization is influenced by external drivers, business dynamics, and new technology and standards. When the market hypes legacy modernization, there is usually a catalyst for bringing the message to the fore, and legacy modernization becomes linked with the catalyst." "We are very pleased to be listed by Gartner as a sample vendor for Legacy Modernization, BPM and Open Source," said Mike Lambert, CMO and executive vice president, Sales at Amentra. "As Gartner recommends in the report, 'Look for consultants who will "teach you to fish" so you can master BPM as a discipline,' I believe Amentra's unique mentoring and project-based approach is an excellent fit for this recommendation. This allows us to continue driving significant partnerships with our client base. Amentra continually strives to find more strategic ways to develop revolutionary approaches to allow our client-partners to transform their process, technology and people in order to achieve the most significant bottom-line impact for their businesses. I believe this listing by Gartner provides further affirmation that we are exceeding these goals." For more information about Amentra, visit www.amentra.com. About Amentra, Inc. Amentra, Inc., a Red Hat company, offers a distinctively different approach to business and IT consulting. By helping clients deploy mission critical business systems utilizing a formal, experience proven mentoring and software development program, Amentra has earned industry accolades for combining two areas that have historically been separate service offerings into a single solution: deliverable-based project solutions integrated with IT mentoring. Amentra has been recognized as a leader in SOA, BPM, distributed component architecture, and Open Source Solutions by industry leaders throughout its history. Amentra provides expertise in the retail, insurance, healthcare, pharmaceutical, telecommunications, finance, and government sectors, among others. Headquartered in Richmond, Virginia, Amentra also has regional offices in Washington, DC, Charlotte, NC, Tampa, FL and Philadelphia, PA. Amentra's web address is www.amentra.com. Advertisement About Red Hat, Inc. Red Hat, the world's leading open source solutions provider, is headquartered in Raleigh, NC with over 50 satellite offices spanning the globe. CIOs have ranked Red Hat first for value in Enterprise Software for four consecutive legacy lyrics years in the CIO Insight Magazine Vendor Value study. Red Hat provides high-quality, affordable technology with its operating system platform, Red Hat Enterprise Linux, together with applications, management and Services Oriented Architecture (SOA) solutions, including the JBoss Enterprise Middleware Suite. Red Hat also offers support, training and consulting services to its customers worldwide. Learn more: http://www.redhat.com. Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to the integration of acquisitions; the ability of the Company to effectively compete; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; risks related to data and information security vulnerabilities; ineffective management of, and control over, the Company's growth and international operations; adverse results in litigation; and changes in and a dependence on key personnel, as well as other factors contained in our most recent Quarterly Report on Form 10-Q (copies of which may be accessed through the Securities and Exchange Commission's Web site at http://www.sec.gov), including those found therein under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry eagle legacy credit union and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date legacy hospital salmon creek subsequent to the date of the press release. LINUX is a trademark of Linus Torvalds. RED HAT(R) and JBOSS(R) are registered trademarks of Red Hat, Inc. and its subsidiaries in the US and other countries. (1) Gartner, Inc. "Hype Cycle for Consulting and Systems Integration, 2008" July 9, 2008B by Michelle Cantara, Lorrie Scardino and Frances Karamouzis et al Ii Gartner, Inc. "Hype Cycle for Open Source Software, 2008" by Bob Igou et al, July 7, 2008 Red Hat, Inc. Kerri Catallozzi, 919-754-4268 [email protected] or SpeakerBox Communications for Red Hat Stephanie Stadler, 703-287-7819 [email protected] Advertisement Advertisement Latest News Sponsored by: Corbin's Creative Concrete 26 teen cheerleaders rescued from coach legacy wristlet crammed elevator 08/06/08 6:10 PM Top U.S. gymnasts to perform at Jordan Center 08/06/08 5:40 PM Man pleads

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