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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | September 27, 2011
Federal spending in Maryland dropped by nearly $1.4 billion last year — a setback for a state economy built largely on Washington dollars and a likely omen, analysts say, of further austerity to come. The pullback, which was revealed in census figures released Tuesday, came largely in government contracting and individual assistance such as unemployment benefits and Medicare payments. State officials attributed the decrease to the tapering off of funds from stimulus programs as well as for construction at recently expanded Maryland military bases.
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NEWS
June 12, 2014
The latest report from the U.S. Department of Commerce reveals that Maryland's gross domestic product or GDP, a primary measure of the economy's health, was unchanged in 2013. That zero growth rate caused Maryland to be ranked second to last among all 50 states for GDP growth last year, an abysmal showing by any standard. The news will likely be cheered by only one group, the Republicans running for state and local office who have been lambasting Maryland's allegedly unfriendly business climate and tax increases since the last economic recession for driving everyone from small business owners to retirees away.
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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | August 31, 2010
The U.S. government funneled more than $34 billion to Maryland contractors last fiscal year as defense and other spending saw huge increases that eclipsed the ramp-up after the Sept. 11 terrorist attacks. Federal dollars earmarked for goods and services in the state rose year-over-year by nearly $9 billion during the 12-month period that ended last September, according to the latest statistics reported by the Census Bureau on Tuesday. That's an annual increase in procurement of 35 percent, a big boost even for a state long accustomed to an outsized share from Uncle Sam. Such spending rose in Maryland in 2002, 2003 and 2004 — fueled by two wars abroad and more security efforts at home — but the increases never topped 25 percent a year.
NEWS
By John Fritze and The Baltimore Sun | January 23, 2014
WASHINGTON -- President Barack Obama met with 250 of the nation's mayor's on Thursday -- including Baltimore Mayor Stephanie Rawlings-Blake -- to discuss the economy, manufacturing and federal investment in infrastructure. City officials are in Washington for the winter meeting of the U.S. Conference of Mayors. Rawlings-Blake is the second vice president of the bipartisan group. Obama and Vice President Joe Biden met with the mayors at the White House days before the president is set to deliver the State of the Union address.
BUSINESS
By David Conn | August 7, 1991
Martin Marietta Corp.'s receipt in November of a $526 million contract from the federal Housing and Urban Development department was unusual, and not only for its size. The 12-year contract was among a dwindling pool of federal non-defense spending awarded to companies in the Baltimore-Washington area last year.More typical was the $5.6 million contract that Cockeysville-based AAI Corp. won in October to improve targeting systems for fighter planes and helicopters.A sharp increase in such defense contracts put the Baltimore-Washington common market firmly in second place in federal spending last year, the Washington/Baltimore Regional Association said yesterday.
NEWS
By ERIC SIEGEL | March 22, 2007
Two separate reports showed up in my in-box last week. And while they were seemingly unrelated, and their near-simultaneous arrivals were coincidental, each reinforced the point of the other. The first, by the nonpartisan Urban Institute, found that the share of domestic federal spending on programs to aid children age 19 and younger declined from 1960 through last year, from 20 percent to 15 percent. While the money spent on children during those 4 1/2 decades increased sixfold in inflation-adjusted dollars to $333 billion a year, the report found that the rise was dwarfed by the increase in spending on nonchild portions of Social Security, Medicare and Medicaid.
NEWS
By KNIGHT RIDDER/TRIBUNE | December 6, 2003
WASHINGTON - President Bush came to office saying he was a fiscal conservative, but federal spending has skyrocketed on his watch. And it's not just the Pentagon that's getting more federal dollars. Overall spending is up by at least 16 percent since he took office, far more than the 2 percent average annual inflation rate over the same period. According to one recent analysis, the government spends $20,000 a year for every household in America, the most since World War II. In the meantime, the $236 billion federal surplus that Bush inherited in January 2001 has turned into a $400 billion-plus deficit.
NEWS
By Paul West, The Baltimore Sun | November 3, 2010
WASHINGTON — Maryland benefited far more than most states from the surge of federal stimulus spending since early 2009. Now it could suffer disproportionately as a new Republican majority in Congress tries to make good on its pledge to shrink the size of government — an effort that could put renewed pressure on cash-strapped state and local governments, and threaten projects that depend on federal assistance. "No question about it," Democratic Sen. Benjamin L. Cardin said in an interview.
BUSINESS
By Greg Schneider and Greg Schneider,SUN STAFF | January 18, 1998
For federal government work, the cliche has long been that Maryland gets the "life" sciences such as medicine and the Census while Virginia gets "death" -- namely, the Pentagon.Both states count government as their biggest industry, but Virginia's portion is flourishing and Maryland's is treading water."The death sciences have paid off better," said Stephen Fuller, a George Mason University professor who tracks federal spending the Washington metro area.It's not that Maryland is fading from the financial glare of the nearby federal capital.
NEWS
By Karen Hosler and Karen Hosler,SUN NATIONAL STAFF | January 14, 2000
WASHINGTON -- Good times are making life tough for penny-pinchers in Washington. An unexpected bounty of billions in new tax money that is pouring into the federal treasury, courtesy of the high-flying economy, is severely undermining the cause of restraint. The first casualty -- expected to be dispatched jointly by President Clinton and the Republican-led Congress either openly or through subterfuge -- will likely be the spending caps that were set in 1997 to help balance the budget. "We created unrealistically low spending ceilings to pretend we balanced the budget," Rep. Benjamin L. Cardin, a Baltimore Democrat, said sarcastically.
NEWS
October 9, 2013
Unconditional surrender. That's what House Speaker John Boehner has called it if Republicans go along with President Barack Obama's position that the government shutdown must be halted and the debt limit raised before negotiations over their grievances can commence. It's not difficult to see how he and his fire-breathing tea party allies might see it that way. Just as kidnappers don't normally release their hostages before the ransom demands are met, the hard-liners in the GOP believe this is the moment of maximum leverage when they can extract the most from their adversaries.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | October 6, 2013
At least 100 federal workers usually crowd the Salsa Grill in Woodlawn for lunch. By Friday, the fourth day of the partial federal government shutdown, their numbers dwindled to three. The Peruvian eatery - across from the Social Security Administration and near the Centers for Medicare & Medicaid Services - counts on those agencies for about half its customers. "The restaurant business, it's small margins, and this is not going to help me at all," said Jay Angle, the owner and chef.
NEWS
By Nayana Davis, The Baltimore Sun | October 5, 2013
The federal shutdown has furloughed many public employees and curtailed services, but one sign of government activity last week continued to hover over Baltimore undeterred. A Navy blimp has been in flight over the city since last month, as a contractor tests its sensors to see how well they will work for mapping. Doug Abbotts, a spokesman for the Naval Air Warfare Center Aircraft Division said the 178-foot blimp's trek, which was scheduled to end Saturday, was funded through a contract his agency made with the Army earlier in the year.
NEWS
July 30, 2013
In his commentary ( "Sequestration hurts," July 22), U.S. Sen. Benjamin Cardin criticized the political gridlock which led to sequestration. But the senator was an influential participant in the political process whereby Congress could not agree upon which functions are normal, regular and essential. The goal should be to end sequestration only if Congress agrees to reign in out-of-control spending and reduce the national debt and annual deficit. Unfortunately, Maryland is particularly vulnerable to any plan to reduce federal spending because it is so dependent upon the federal government for its economic well-being.
NEWS
June 23, 2013
So that's how you get reluctant Republican senators on board with immigration reform. You do it the old-fashioned way: You pay for it. By committing a stunning $30 billion to secure the nation's Southern border, hiring thousands of federal agents, committing to the construction of 700 miles of fencing and taking other measures normally associated with securing a combat zone in a time of war, the Senate may have just bought itself a veto-proof majority....
NEWS
April 29, 2013
What does it require to get members of Congress to take action quickly and decisively on an issue of federal spending? Now we know. The possibility that they will be delayed in an airport terminal somewhere waiting for a flight out of town is apparently so abhorrent that the usual gridlock and party politics just don't apply. That's the take-away from last week's lightning-fast, lopsided bipartisan votes that transferred more than a quarter-billion dollars to the Federal Aviation Administration budget so that the agency would no longer have to furlough air traffic controllers.
NEWS
By Robert Little and Robert Little,SUN STAFF | June 4, 2003
While most of America was suffering from a prewar economic drought, Maryland's economy enjoyed a relative drenching of cash last year, courtesy of its wealthy, terrorism-fighting neighbor - the U.S. government. According to figures to be released today by the U.S. Census Bureau, the federal government's spending on goods and services in Maryland increased more than 25 percent in 2002, compared with a 10 percent increase nationwide. The $13.5 billion in federal procurement spent in Maryland accounted for nearly 7 percent of the state's economy and cemented Maryland's historical position as one of the nation's top recipients of federal money.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | February 19, 2013
Maryland is one of the states most "vulnerable" to sequestration cuts, given its dependence on federal spending, Wells Fargo said Monday. The financial services company's report, which underscores earlier warnings from economists, says non-defense spending makes up 10 percent of Maryland's gross domestic product — tied with Virginia and D.C. for the biggest share nationwide. Defense spending is nearly as large, at 9.8 percent, ranking the state third — and again tied with Virginia and D.C. — behind Hawaii and Alaska.
NEWS
By John Fritze, The Baltimore Sun | March 30, 2013
A month after across-the-board federal spending cuts began, there are signs that one of the most troubling potential consequences for Maryland — the furloughing of federal employees — might not be as widespread as initially feared. But the state has not gone unscathed by the $85 billion in cuts known as sequestration, and some of the first tangible changes in the Baltimore area are beginning to emerge as federal services are trimmed. Fort McHenry in Baltimore and the Hampton National Historic Site near Towson plan to cut hours this summer, limiting visits by tourists.
NEWS
March 4, 2013
The U.S. today has both historically low interest rates and large reserves of ready cash for investment by business. The interest rates and ready cash means businesses already have the maximum incentive to invest in new production that our financial system can provide; their cost of borrowing money will never be lower than it is right now. In spite of this, U.S. businesses are still not investing in new production enough to spur hiring. American businesses fail to invest because they know their market is shrinking.
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