Highlights of the approaching 'fiscal cliff'

The "fiscal cliff" is an economy-rattling combination of expiring tax cuts and major across-the-board spending reductions to the Pentagon and domestic programs.

It's the punishment for previous failures of a bitterly divided Congress and White House to deal with the government's spiraling debt or overhaul tax laws. The Congressional Budget Office estimates that the austerity program would reduce the deficit by $503 billion through the end of next September, or approaching $700 billion for the entire calendar year. The CBO says millions of jobs could be lost.

The fiscal cliff includes:

?The expiration of George W. Bush-era tax cuts on income, investments, married couples and families with children and inheritances. In addition, some 26 million additional face the alternative minimum tax next filing season, which would raise their taxes by an average of $3,700. Cost through September: $330 billion.

?A $55 billion, 9 percent cut in the defense budget next year and another $55 billion in cuts to domestic programs, including a 2 percent cut to Medicare providers.

?The expiration of unemployment benefits for the long-term jobless. Cost: $26 billion.

?A sharp cut in reimbursements for doctors participating in Medicare. Cost: $11 billion.

?The expiration of Obama's temporary 2 percentage point cut in payroll taxes. Cost: $95 billion.

?A variety of smaller taxes cuts for both businesses and individuals collectively known as tax "extenders." They include a tax credit for research and development and a deduction for sales taxes in states that don't have an income tax. Cost: about $65 billion.

?A need to increase the government's borrowing cap (the so-called debt limit) of $16.4 trillion. The government is expected to hit the cap late this year but the Treasury Department has the authority to juggle certain accounts to buy several more weeks of time so that Congress won't have to act until early next year.

Source: http://news.yahoo.com/highlights-approaching-fiscal-cliff-141258815.html

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Keegan to lead Catholic Charities' Child and Family Services ...

Posted on November 30, 2012, 8:00 am, by Daily Record Staff.

Kevin Keegan, president and CEO of the Family League of Baltimore City, has been selected to lead Catholic Charities? Child and Family Services. He will ?succeed Mark Greenberg, who is retiring after 39 years of service to Catholic Charities.

The Child and Family Services division of Catholic Charities is a national leader in behavioral health, child welfare, special education, early childhood, and family development services. The division employs over 850 staff and operates a wide array of state-of-the-art programs throughout Maryland.

Keegan, who will also become a member of Catholic Charities? executive leadership team, has been at the Family League of Baltimore City since 2010. During that time, he has expanded the agency?s free supper and home meals program, helped implement ?B?more for Healthy Babies,? the successful infant mortality public education campaign developed in conjunction with the Baltimore City Department of Health, and expanded the reach of the organization through collaborations around grade-level reading, summer activities for students, and community schools. Keegan also grew the budget by $5 million, a 25 percent increase, to expand services for Baltimore City children and families.

Keegan received an master?s in Health Services Administration from Central Michigan University, as well as a bachelor?s degree in psychology and an master?s in clinical psychology from Loyola University Maryland.

Keegan will assume his new duties at Catholic Charities in January and a search will begin for his replacement at the Family League in mid-November.

Source: http://thedailyrecord.com/movers-and-shakers/2012/11/30/keegan-to-lead-catholic-charities-child-and-family-services/

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