Word: trillions
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...third quarter of this year, but the jobless rate has surged to 10.2%, the highest since 1983. Raising interest rates runs the risk of worsening unemployment. For the same reason, the U.S. cannot withdraw stimulus spending either, even though the U.S. budget deficit has topped a record $1.7 trillion. Last week, mortgage lender Fannie Mae reported $18.9 billion in third-quarter losses and said it needs another $15 billion in taxpayer money to survive...
...expectations that the deficit will rise to $548 billion this year, an enormous 10% of GDP. Yet, despite Hatoyama's instructions to keep next year's spending no higher than this year's initial budget of $970 billion, the country's ministries have submitted 2010 spending requests totaling $1.04 trillion. (See pictures of how Japan has changed in 20 years...
...have been arguing that the stimulus bill, which most economists credit with speeding economic recovery, has only made matters worse on the job front, with October's numbers showing that the economy is continuing to shed jobs. "It's bewildering to see the same Administration that sold its trillion-dollar spending plan this spring as a guarantee against 8% unemployment claiming it created 1 million jobs, especially since it is a sad fact 3 million jobs have been lost since the stimulus was signed into law," said Senate Republican leader Mitch McConnell on Thursday, Nov. 5. See 25 people...
JUDD GREGG, Republican Senator from New Hampshire, on the Federal Government's projected $1.42 trillion deficit...
...addressing the root causes of the health crisis in America. As I've said, we don't have a health care crisis in the country - we have a health crisis. Our health care system is not nearly as broken as [our] health. Eighty percent of the $2.4 trillion [in U.S. health care spending] is on chronic disease. When you consider that what the Congress is attempting to address is more about covering people, not changing the culture, they're missing the point...