Word: stimulus
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...reasonable standard, Crist would be considered a conservative. He is pro-life, pro-gun, antitax, big on law and order, a foreign policy hawk. But these are not reasonable times. In February, Crist not only came out in favor of Barack Obama's stimulus package; he welcomed the stimulator himself to Florida. There is a picture, which Floridians will see more than once before the primary, of the governor and the President arm in arm. Crist's aides can list the various things the stimulus funds have done for Florida - saved the jobs of 26,000 teachers, for starters. They...
...massive" growth of government is a terrific issue in the abstract. It becomes more problematic when you get down to details: Would Rubio actually have turned down the stimulus funds that he criticizes Crist for accepting? In Florida, with its elderly population (receiving government pensions and government health care) and its exotic climate, Rubio's form of libertarianism is a fantasy. Indeed, after the wild hurricane season of 2005, Governor Jeb Bush was forced to offer homeowners a public-insurance option - private-insurance rates were skyrocketing - which quickly became the state's largest insurer. "Lord, save me from the purists...
...lending dried up and growth shriveled, governments and central banks were forced to take similar steps - pump up fiscal spending and slash interest rates to support growth and unfreeze financial markets. Now, as an economic recovery emerges, governments are hoping for another coordinated effort to exit from their massive stimulus plans, including near-zero interest rates. That intention was clearly laid out during the September G-20 summit in Pittsburgh, Pa. The leaders of the world's 20 most influential economies pledged to "withdraw our extraordinary policy support in a cooperative and coordinated...
...quarter of a percentage point, to 3.25%. With "inflation close to target and the risk of serious economic contraction in Australia now having passed," Reserve Bank of Australia Governor Glenn Stevens said in a statement, the central bank decided that it was now "prudent to begin gradually lessening the stimulus provided by monetary policy." Meanwhile, in other industrialized nations still suffering from high unemployment and yawning excess capacity, policymakers are in no hurry to tighten. In the U.S., the Federal Reserve has indicated that it won't act aggressively anytime soon on its key interest rate, which remains...
...haphazard exit from stimulus measures, with countries going their separate ways, could pose its own set of problems. In this era of globalization what one government does in one corner of the world can have a knock-off effect on economies in another corner. For example, countries that raise interest rates ahead of others could end up attracting money from foreign investors seeking a higher return, potentially draining funds away from economies that are still badly in need of investment. Or if too many governments turn off the stimulus tap too quickly, global demand could fall sharply. "An unruly rush...