Word: borrower
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Dates: during 2000-2009
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...other words, the government should go out and borrow even more money and pass it around for us to spend. The experts caution that for maximum stimulus effect, we must be sure to spend it immediately. No squirreling it away for a rainy day. In drinking circles, they call this hair of the dog: to cure a hangover, you have another drink...
...stimulus that will do the job intended and not make matters worse. Often in the past, these stimuli have come too late or been too small to do anything but add to the deficit. But that's not my gripe. My gripe is that telling Americans they need to borrow and spend just a little bit more to get us past this recession?and then reform their ways?is like telling an alcoholic he needs one more drink before sobering...
...mail still brings fat envelopes from companies begging to issue you a credit card. Every TV commercial that isn't about some prescription drug for a disease you never heard of (but may well have, now that they mention it) seems to be for payday loans. Always borrow responsibly, they say. A little late for that...
...problem. Think about it: the terrorist threat to national security, the relative decline of the American middle class, the sudden flimsiness of the international economic structure - to say nothing of the potential destruction of the planet - all are influenced by the fact that, as Clinton often says, "we borrow money from the Chinese to buy oil from the Saudis." Somewhere in there is a big campaign theme waiting to be born...
...losses incurred by banks caught up in the collapse of the U.S. subprime mortgage market. With those banks themselves still somewhat in the dark - even after writing down tens of billions of dollars linked to those soured mortgage loans - it's gotten harder for institutions and individuals to borrow money. Even the Federal Reserve seems spooked: the U.S. central bank early Tuesday slashed a key interest rate by 0.75% to 3.5%, the biggest cut in more than 20 years...