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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 13, 2009
Page
11
The Treasury reports a July deficit of 180.7 billion dollars, pushing the year-to-date shortfall toward 1.84 trillion. Receipts fell 5.6 percent from a year earlier while spending hit a July record of 332.2 billion as the recession deepens.
The piece cites Scholarship America reporting a 15 percent rise in applications for 1,173 programs while awards declined 16 percent. It highlights tips from Jason Lum of ScholarEdge on persistent outreach, broad search, and dedicating at least 10 hours weekly to research, essays, and activities.
The Federal Reserve kept its key lending rate at near zero and signaled a slower pace for ending its $300 billion Treasury purchase program. Officials express confidence in a leveling economy while noting activity will remain weak for a time.
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