Word: soon
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...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...
...problem is simple in that if you're an individual, a business owner or an entire state and you build your debt level to 70%, 80%, 90% of your revenues, you soon won't be able to pay the interest on your borrowing - much less the principle - and you'll default," says economist Marc Touati, deputy director of the Paris-based financial-services group Global Equities. "We're not there yet, especially for all the nations of Europe. But there are several, including France, that simply must cut spending, deficit and debt dramatically, and soon - or things will get very...
...budgets, reducing expensive state services and cutting jobs - all the things that tend to weigh economies down in good times. Why? Because they say the only way big-spending nations can avoid implementing drastic debt-reduction measures is by prompting massive GDP growth - something few observers see happening anytime soon...
...also looking unlikely that the U.S. Senate will pass carbon-capping legislation anytime soon - Obama lost a key vote for cap and trade when Republican Scott Brown won the late Senator Ted Kennedy's seat in a special election in Massachusetts - and that could potentially invalidate the U.S. Copenhagen pledge and throw the continuing international climate talks into further disarray. "Unless [the U.S.] is serious about its own commitments, there will be a very serious impact on the talks," said Rae Kwon Chung, South Korea's ambassador on climate change. (See the world's most polluted places...
...Shepherd), who transforms from an everyman office drone into “Gatsby” narrator Nick Carraway, casually begins reading the book on the pretext of waiting for his ancient, uncooperative computer to start up. Despite receiving odd looks from fellow employees, he continues reciting the text aloud. Soon, the play subtly shifts, and each one of the nobody office workers is cast in a role, drafted into the reader’s imaginary Fitzgeraldian world, where the romance, humor, and brutality of “Gatsby” are all poignantly real...