Word: billioned
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...Although the economy is now growing, recovery is still in its early stages and remains very fragile," Brown said in a March 10 speech in the City. Labour says the recovery is due to the government's lead in global efforts to stabilize the banking system and its $30 billion of fiscal stimulus and argues that stimulus spending must continue. Conservatives, however, propose swifter action to reduce Britain's borrowing. That view has been bolstered over recent weeks with the world's three biggest credit-rating agencies raising concerns that the scale of debt puts Britain at significant risk...
...mired in poverty. Today it is a member of the G-20 club of the wealthiest economies. "Foreigners used to think of Indonesia as a place of natural disasters," says Gita Wirjawan, the head of the nation's investment board. "But now they realize that this is a $550 billion economy that's on an upward trajectory...
...just as they had defunded any domestic alternative to Guantánamo Bay a year before. On Jan. 27, the dam broke: New York City Mayor Michael Bloomberg reversed his previous position and said he opposed a trial in Manhattan because it could cost the city as much as $1 billion...
...Gmail. Google then vowed to stop self-censoring--a move that, according to a Beijing spokesman on March 12, would have "consequences." Ironically, those consequences might be gravest for China. The $600 million that Google could earn in China this year pales in comparison with the company's $22 billion global annual revenue. The pullout, however, could adversely affect Chinese start...
...plan also needs to be more explicit about what should happen to persistently failing schools. While the $4 billion federal Race to the Top competition, which began in 2009, gives states incentives to close schools after all other strategies to improve achievement have failed, Obama's new proposal is more ambiguous. It will permit states to shy away from making these tough choices--even though replacing failing schools can transform entire districts. In New York City, we've phased out more than 90 schools during the past seven years; these decisions haven't been politically popular, but the schools that...