Word: budgeting
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...splash out. The administration of President Ma Ying-jeou is also pushing a $14.7 billion program of infrastructure projects through the legislature, which includes funding for construction of better bridges and more subways. Singapore in January announced a $13.4 billion "Resilience Package" that will increase the country's budget deficit to a record level. Yet there is a limit to what governments can do. Exports are simply too important to the tiger economies to be easily replaced. They represented 74% of Taiwan's GDP and 46% of South Korea's in 2007. "You can't change the [export] model," laments...
...Budget...
...Obama, of course. He has to govern. He has to manage situations - the banks at home, the deterioration of Pakistan overseas - that might prove unmanageable. For all the spiritual success of his budget speech, there were precious few details about his policy priorities. No one really knows what to do about the American auto industry. No one really knows if, or how quickly, alternative energy sources can revive the economy and salve the planet. There seems to be some confusion about how to proceed on health care. In his speech, the President promised a national health plan within the year...
Obama's month in office has not been kind to Republicans. In a New York Times/CBS News poll released the day before the budget speech, 79% said that the GOP should put more effort into cooperating with the President and only 17% said Republicans should stick by their principles. Indeed, a brace of polls indicated great faith in Obama, somewhat less faith in his proposed solutions, and a crushing consensus that the Republican Party seemed more interested in playing politics at a time of crisis than in behaving constructively. Louisiana Governor Bobby Jindal, a smart fellow...
There are, then, strong indications that the big decisions on a range of crucial issues have yet to be made. But after the budget speech, there is a clearer sense that we have a President who will attack those decisions, then lead the way forward with the unconquerable gladness of a man invigorated by the tasks before...