Word: debts
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...most intractable problems, from reform of the global financial system to climate change to nuclear proliferation. Most pressing, cooperation between Washington and Beijing is seen as absolutely crucial to nurturing the budding recovery of the global economy. The two sides need to alleviate the giant economic imbalances - excessive debt and deficits in the U.S. paired with excessive savings in China - to restore the world economy to a more sustainable growth path...
...most plausible explanation for this happy outcome is that Japan was willing to recycle into Treasuries the dollars it earned selling us cars, TVs and stereos. That demand for U.S. debt kept interest rates low. By the early 1990s, though, the national debt - the accumulated product of those years of deficits - approached 50% of GDP, and bond investors abroad and at home seemed to shy away from Treasuries, driving interest rates up. Also, billionaire Ross Perot spent a good part of his fortune making deficits into a political issue. In response, Washington focused for a few years on getting...
...safe haven and poured money into them, driving down interest rates. Officials in Washington spared no expense in battling the crisis. The result is a deficit of unprecedented size but with no perceptible pressure from financial markets to reduce it. No pressure so far, at least. The federal debt, at $7.6 trillion, is now above 50% of GDP and rising. The government faces commitments to Social Security and Medicare that dwarf that figure. Republican congressional leaders have decided they care about deficits again - and seem to be making headway in public opinion. The prevailing winds will shift one of these...
...sugar and reality TV. I was just a high-consuming member of the high-consuming lifestyle. And I think that I was just asleep to the toll, in terms of my health, in terms of not being with my family, and to the literal cost in terms of debt. I also realized halfway through the project that it was a great joy to eat this way and live this way, and how much I'd been sacrificing without realizing it in my old life...
...Nelson and the other moderate Democratic Senators had an hour-long meeting in the White House Cabinet room. The group came to agreement on issues like making the bill deficit neutral and reducing debt in the long term while at the same time treading gingerly over the remaining issues to be negotiated, including the possible inclusion of a so-called public-insurance option. According to Obama aides, the President urged the Senators to continue reaching out to him over the coming weeks with suggestions and feedback. When the meeting concluded, the Senators returned by bus to the Capitol, leaving...