Word: deficiteer
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President Obama may have left jaws hanging with his proposed $3.8 trillion budget for the fiscal year 2011 - which forecasts a stunning $1.6 trillion deficit - but he's hardly the only member of the "spend now, pay later" club. Across Europe, governments have gotten so used to embracing debt during economically tight times such as these that some experts are starting to wonder if they will get back to viable deficit levels - much less balanced budgets - anytime soon...
...clearly in a debt league of its own. Obama's proposed deficit, representing about 11% of gross domestic product, is part of a 10-year plan aimed at reducing the U.S. budget shortfall from its current level to a still hefty annual average of 3.6% if everything goes well. The deficit amounts may be less dizzying in Europe, but they're still a major cause of concern for fiscal purists who fear that some governments may end up drowning in red ink. Twenty of the European Union's 27 members are running deficits to ease their way through the global...
...when anything like FDR’s serenity and gentility comes across as aloofness. Obama will have to adopt a different model for his sophomore effort. If the president is to eliminate what he referred to in his State of the Union address as the national “deficit of trust,” he needs to engage the average American’s concerns of economic foul play more directly and more vividly. As Obama negotiates with Congress on a jobs bill and other long-term recovery efforts behind the scenes, he should use the bully pulpit...
...Crimson co-captains started to turn things around. Junior Claire Wheeler hit a jumper to reduce the deficit to six. Harvard wouldn’t find the basket again for nearly two minutes, but it played lockdown defense and didn’t allow Cornell a tally in that period. Then junior co-captain Christine Matera scored her second of four three-pointers to bring the deficit down to two. By then, it seemed only a matter a time before Harvard took control, which it did following a three-pointer by freshman Victoria Lippert and the back-to-back three...
...oppose before you become part of the problem, says Norm Ornstein, a congressional scholar at the conservative American Enterprise Institute. And the White House is counting on that fact to try to make the Republicans' refusal to even consider supporting some moderate proposals on tax cuts and deficit commissions a liability in the fall. Last week, a senior Administration official said, "We will not allow the next 10 months to become a referendum on Barack Obama...