Cumberland Times-News


October 27, 2012

Better news?

Experts say U.S. economy may improve next year

Believe it or not, economists surveyed by USA Today believe that America’s economy will slowly improve next year.

That’s assuming Congress actually resolves its budgetary indecision and the U.S. escapes the so-called “fiscal cliff” from which it would plummet next January if no budget is passed and sequestration — with tax increases and spending cuts — takes place.

About two-thirds of the 48 economists asked by USA Today said the budget standoff would be resolved without damaging the economy.

Among their predictions for next year:

• The economy will grow 2.3 percent.

• Unemployment will drop from 7.8 percent to 7.6 percent.

• By the fourth quarter, 175,000 jobs will be added each month compared to 130,000 a month this current quarter.

• Business investment growth will rise to 7.5 percent from its current 4.2 percent.

Recently, the Associated Press reported that U.S. oil output is growing so rapidly that America could soon overtake Saudi Arabia as the world’s largest oil producer. This is being driven by high oil prices and new drilling methods.

So maybe better days are coming.

However, not all of the economists surveyed agree on the conclusions, and many factors are involved.

“If” still remains one of the biggest words in the English language.

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  • We concur We concur

    We’re certain that Donald Rumsfeld, who served as Secretary of Defense under Presidents Gerald Ford and George W. Bush, echoes what many Americans feel about the complexity of filing income tax returns.
    When he filed his return, Rumsfeld sent the following letter to the Internal Revenue Service:

    April 16, 2014 1 Photo

  • The first step The first step

    If all goes as planned, Frostburg State University will one day offer a doctorate in nursing, a physician’s assistant program and a new health sciences building on campus.

    April 15, 2014 1 Photo

  • Where to look Where to look

    Drive anywhere in Maryland and it seems there is one highway construction project after another. While it is good to see our roads and bridges being upgraded, it can be nerve-wracking for anyone traveling a long distance.

    April 14, 2014 1 Photo

  • Library week

    Public libraries remain one of the best uses of taxpayer dollars. They are open to all. Young or old, poor or wealthy, residents can use computers and read current magazines and newspapers. Compact discs featuring a wide variety of music and
    movies on DVD may be checked out in addition to novels and other books.

    April 13, 2014

  • Sunday hunting Sunday hunting

    Legislation that increases hunting oppportunities on Sundays in Garrett, Allegany and Washington counties has passed the Maryland General Assembly and reached the governor’s desk.

    April 13, 2014 1 Photo

  • One cannot compromise on God’s word

    A recent letter asked, “What is it about compromises that seem so undesirable?” Most of us are familiar with John 3:16, which says, “For God so loved the world that he gave his only son, that whoever believes in him should not perish but have eternal life.” The next verse goes on to say, “For God did not send his son into the world to condemn the world, but in order that the world might be saved through him”

    April 13, 2014

  • Ballpark project a partnership, not a government handout

    To the Editor:
    Regarding Mark Nelson’s recent objection to county government assistance to exploring the placement of a minor league baseball team in the Cumberland region, I would answer that the project should be considered a partnership between private enterprise and government. The private support would come by way of donations collected from local citizens, currently banked through the Dapper Dan Club.

    April 13, 2014

  • Editorial Cartoon Editorial Cartoon

    April 11, 2014 1 Photo

  • Decriminalizing marijuana lines pockets of drug cartel

    Has the Maryland government decided they like contributing to the drug cartel? Their new decriminalization of marijuana does nothing but line the pockets of the cartel.

    April 11, 2014

  • Speed cameras Speed cameras

    We’ve never been big fans of speed cameras, primarily for two reasons. First, because the cameras are not always accurate, and secondly because many jurisdictions seem to create revenue by installing cameras and issuing high numbers of speeding tickets.

    April 10, 2014 1 Photo