Word: borrower
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Dates: during 2000-2009
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...their allowing the deficit to balloon to $10 trillion. All Gingrich can offer as an answer is Contract with America 2.0 - which consists mostly of tax cuts. It's the old trickle-down economics with a fresh paint job. I'd much rather have tax-and-spend Democrats than borrow-and-spend Republicans. David Ingram, ST. LOUIS...
This is in large part because of how PE firms are structured: they lock up investors' money for a decade and rake in 2% annual fees even when their investments tank. When they borrow money to buy a company, the debt gets stuck on the company's books, not theirs. As a result, most have been able to effectively hold their breath through the turmoil...
First, some background: private equity refers to what in the 1980s was called the leveraged buyout (LBO). LBO artists such as Henry Kravis and Carl Icahn borrowed lots of money on the junk-bond market built by financier Michael Milken and used it to finance takeovers - sometimes hostile ones - of struggling corporations. During the recession of the early 1990s, the LBO business faltered, and many predicted its demise. But buyout funds re-emerged under the more genteel moniker private equity, eschewed hostile takeovers, reliably outperformed the S&P 500 and grew to be a far bigger force than they ever...
...bailout banks is better than the side-effects of having a staggering national debt, a debt which revenue collected by the IRS may not decrease at the rate that the Administration claims that it will. For France, the matter is academic. It does not have the ability to borrow hundreds of billions of dollars though the world's credit markets. Even if it is philosophically opposed to a large deficit, it is poorly equipped to create one through borrowing. (See pictures of the global financial crisis...
...course, when addicts finally quit, it feels awful for a while, and that's where we are right now. The recession, provoked by the sudden, essentially cold-turkey abandonment of spending, lending and borrowing, is something like our national equivalent of the jitters, sweats and seizures that addicts experience right after they give up the junk. Actually, the applicable addiction trope is more like food (or sex) than drugs or booze, since as economic creatures, we can't quit; we just have to teach ourselves to buy and borrow in moderate, healthier ways. The new America must be about financial...