Word: deficits
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Dates: during 2000-2009
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...stranger to deficit spending, Japan approved this month a new Policy Package to Address the Economic Crisis worth $156 billion, its third fiscal stimulus package since September - and the umpteenth attempt to jumpstart the economy since the bursting of the asset bubble way back in the 1990s. None of the previous attempts worked, in part because much of the money went to wasteful public works spending in the bailiwicks of ruling-party politicians. The latest spending appears to make more economic sense, targeting job-creation, support for the equity market, increased transfers to regional governments, health-care spending, and energy...
...easy money will actually go where it is supposed to go. It's all too easy for the state's largesse to end up in the pockets of politicians and other vested interests. The other issue is the long-term damage to economies from the sheer size of the deficit spending. The Chinese spending is equivalent to nearly 13% of GDP while that in Japan comes to 5%. Australia's fiscal stimulus equals 5% of GDP too, while Korea's is at 3.7%, Taiwan's at 3.4% and Thailand...
...Entering the singles, Harvard needed once again to overhaul a point deficit...
...spot, Ko appeared overwhelmed at first against Big Green standout Molly Scott, dropping serve early for a 0-2 deficit. However, after battling back to a 4-3 lead, Ko found her stride and ran Scott all over the court in a 6-3, 6-1 drubbing...
...best - and more than any other moment of his first 100 days in office, it summed up the purpose of his presidency: a radical change of course not just from his predecessor, not just from the 30-year Reagan era but also from the quick-fix, sugar-rush, attention-deficit society of the postmodern age. The speech received ho-hum coverage on the evening news and in print - because, I suspect, it was more of a summation than the announcement of new initiatives. Quickly, public attention turned to new "tempests of the moment" - an obscene amount of attention was paid...