Economics & Economy

Commonwealth Ends Fiscal Year with Surplus

Aug 19, 2013

Governor McDonnell has announced a $585-million surplus for the state fiscal year that ended in June. 

The General Assembly’s money committees greeted him with warm applause before he outlined the condition of the Commonwealth’s budget outlook. 

The Governor shared the credit and thanked lawmakers of both parties for work that’s resulted in surpluses during a tough economy.

The Money Game

Aug 14, 2013

As the saying goes, it takes money to make money.  But where does that leave the four billion people around the world who live below the poverty line? 

A Virginia Tech Professor is tackling that problem from a new perspective.  

Most people have heard the term ‘micro finance.’  Cooperatives lend small amounts of money to entrepreneurs and small businesses. The concept began in developing nations to help women start their own businesses. Experts say poor people who receive these loans repay them at the astounding rate 99.7%.

Get Fresh!

Aug 12, 2013
Tricycle Gardens

A food desert is a neighborhood with no supermarkets – a place where you can’t buy fresh fruits or vegetables.  The small corner stores carry canned and dried food that keeps well on the shelf but is less nutritious than fresh produce, often high in fat and sugar. 

For a city of its size, Richmond, Virginia is the worst food desert in the nation, but an effort is underway to fix that problem.

U.S. Navy

A renowned economist is relaxing her predictions somewhat about the effects of federal sequestration on Virginia and now sees a reason for some optimism.  Chris Chmura says although the impact of the cuts will still hurt the Commonwealth more than most states, she expects there will  be some modest job growth.

Hunger pangs may be a sign to raid the refrigerator, order carryout, heat up some leftovers, or head to your favorite restaurant. 

But thousands of Virginia children don't have that option.  In fact—and it’s a little-known fact—area food banks throughout the Commonwealth are in greater need of supplies over the summer than over the holidays, when most food drives take place.

Since 2006, there's been a 56-percent increase in the need for serving the hungry. And as Governor McDonnell explains, it's harder to restock food banks during this time of year than any other.

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