Word: affordability
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Dates: during 2000-2009
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...Build America Bonds are a big subsidy that is costly to the federal government," says Michael Ettlinger, a vice president for economic policy at the liberal think tank Center for American Progress. "At some point we may say this is a subsidy we can't afford, but for now this is a great thing...
...which includes Detroit, a restitution of nearly $1 million. So far, Kilpatrick has paid about $90,000 of that sum. But despite having a $120,000-a-year job in Dallas with a subsidiary of Compuware, the billion-dollar software company based in Detroit, Kilpatrick now claims he cannot afford to meet the payment terms of his probation agreement. (Never mind his family's rented suburban mansion and flashy cars.) (See the top 10 scandals...
...advisors and close friends as well as dinners with his wife. To be fair, unlike President Obama, students don’t have a double-digit staff to handle their daily affairs. However, students also don’t have the ultimate responsibility that the president carries and can afford to work and play in a balanced way. All it takes is some adjustment to one’s activities in order to leave time for relationships and self...
There is reason to believe such eye-popping spending can continue. As more regions of China's vast hinterland join in its amazing economic boom, more and more of the country's 1.3 billion people can afford cars, refrigerators and flat-panel TVs items not too long ago considered luxuries for a fortunate few. Chen Baogen, Xi'an's mayor, says his city of eight million had lagged behind towns on the export-oriented coast, but now incomes are growing to the point where consumption is taking off. In the first nine months of 2009, retail sales in the city...
Such efforts will take years to bear fruit, however time the global economy may not be able to afford. Economists agree that China and the United States must alleviate the imbalances that contributed to the current crisis if the world economy is to find renewed, and healthier, growth. China saves too much and spends too little, leading to giant surpluses and hard currency reserves, while the U.S. saves too little and spends too much, creating giant deficits and debt. Unless China can transform its citizens from savers to spenders, the reform of the entire world economic system could suffer...