Word: billioned
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...defense and discretionary spending was financed solely by deficit spending. In short, even if we decided that the government’s only job was to manage these entitlement programs and cut all other spending to zero, we’d still only break even—our $12.7 billion of existing national debt would remain unpaid. The magnitude of the problem has become so great that it can no longer be ignored...
According to a report by the Charles River Associates, the creation of wind farms would reduce the cost of electricity in New England by $185 million per year and $4.6 billion over 25 years. In the process, it will also create jobs in manufacturing and assembling, among other areas. Given the current state of the economy, job-creating initiatives are vital. Considering New England’s January and February unemployment rates, which show a widespread increase, Cape Wind provides a perfect opportunity to reverse such trends...
...awareness of potential threats. The Cold War gave us warnings of missile and bomber gaps, later found to be largely mirages, that were supposedly leaving U.S. citizens vulnerable to Soviet attack. Fear of the supposed Soviet missile advantage spurred President Ronald Reagan's Star Wars initiative and the $100 billion Washington has spent preparing to counter incoming enemy missiles even as the Soviet Union disappeared. Then, 9/11 put us in the crosshairs of Islamic terrorists, calling into being a mushrooming homeland-security industrial complex. All very well, warn the sentinels at the Heritage Foundation, but what about the EMP threat...
...charged with overseeing the day-to-day runnings of the Abu Dhabi Investment Authority (ADIA). The fund has stakes in companies including Citigroup, the Hyatt Hotels and Britain's Gatwick airport. Engorged with Abu Dhabi's substantial oil surpluses, ADIA's assets are estimated at between $300 billion and $800 billion. It was Abu Dhabi's wealth that helped bail out sister city-state Dubai when it ran short of funds to complete the world's tallest building - which was then renamed the Burj Khalifa after the President of the U.A.E. (See pictures of the Burj Khalifa, the world...
...whoever assumes the helm of ADIA will be of keen interest to Dubai, according to Davidson. Apart from the troubles with the Burj Khalifa, debt-laden Dubai received a $10 billion bailout late last year from Abu Dhabi to pay off the debts of some of its most troubled state-run companies. "Dubai will be hoping that whoever replaces [Sheik Ahmed] will be someone who is more open to assisting Dubai, rather than this drip-feed of financial assistance Abu Dhabi has been giving Dubai, little by little, humiliating them every step of the way," Davidson says. Sheik Ahmed...