Word: deficits
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...also inevitable. Pressure is building on political leaders to prove they're serious about getting their countries' finances in order. In late January, S&P warned that it could downgrade Japan's sovereign rating if the new administration of Prime Minister Yukio Hatoyama doesn't rein in the deficit. In his January State of the Union address, President Barack Obama pledged to freeze discretionary fiscal spending for three years starting in 2011. "Like any cash-strapped family, we will work within a budget to invest in what we need and sacrifice what we don't," Obama said. (See pictures...
...That help has a price. European ministers are insisting that Greece implement a severe austerity plan to quickly reduce its fiscal deficit. Papandreou has already promised pay cuts for public employees and tax hikes, but his European counterparts are demanding an even stricter program. That presents a huge test to his regime. Government workers have already staged strikes to protest Papandreou's plans. So far, he's held firm. A recent poll showed that two-thirds of Greeks believe the Prime Minister's measures are necessary; only 41% think they go far enough. "The government has seen the problem...
Harvard’s defense played a critical role in allowing the Crimson to come back from an early 23-18 deficit...
...with just a few ticks left on the shot clock. A loose ball found itself in the hands of sophomore Max Kenyi, who then kicked it out to McNally, spotted up a step outside the perimeter. When McNally’s shot sailed home, the Crimson’s deficit was cut to just...
...media operations to bring it down. Some suggest that speculators are attacking the euro to block moves toward tougher European Union regulation of the market. Others, like European Central Bank chief economist Jürgen Stark, suggest people are perpetrating a ruse to hide the U.K.'s budget deficit. "It's astonishing to see where most of the criticism of the euro is coming from," Stark says. "Much of what they are printing reads as if they were trying to deflect attention away from problems in their own backyards...