Word: debts
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...economy will shrink 1.8% in 2009. That's going to make borrowing crucial. Ireland's budget deficit is projected to rise to 13% of GDP by 2010; Britain's could hit 9.6%. France and Germany are both expected to blast through the 3% ceiling. The region's debt figures are just as dire. (See pictures of the financial crisis hitting London...
...seems extreme. Balance sheet jockeys would say that the trouble the market fears is hidden within GE's asset base and will jump out to eviscerate earnings soon. So far there is no sign that GE will implode because of the state of its financial services receivables or its debt...
...more of a luxury. Yesterday, the Massachusetts Turnpike Authority voted to increase toll prices in a staggered fashion—by a factor that depends on whether a gas-tax increase will also be approved. In an attempt to rid the state’s transportation system of its debt, and to bolster the budget by half a billion dollars, Governor Deval L. Patrick ’78 has suggested raising the gasoline tax by 19 cents in the state—nearly double its current level. His proposal, which would leave Massachusetts with one of the highest gas taxes...
...proudly pointed to lifting the country out of the recession in 2001 by supporting tax cuts, particularly for the wealthy, but neglected to see or admit that the cuts contributed to our current economic catastrophe. It is self-evident that by deregulating financial markets and dramatically increasing our national debt his policies simply postponed an intensified recession until...
...consistently supported lower taxes. Now is not the time to raise taxes, but if we don’t eventually lower our national debt, we will all become poor, no matter how low our taxes might...