Word: dollarized
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Dates: during 2000-2009
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...biggest public-policy initiatives in decades. The creamy notions of postpartisan cooperation - poured abundantly over Obama's presidential campaign a year ago - have curdled into suspicion and feelings of helplessness. Trust is a toxic asset, sitting valueless on the national books. Good faith is trading at pennies on the dollar. The old American mind-set that Richard Hofstadter famously called "the paranoid style" - the sense that Masons or the railroads or the Pope or the guys in black helicopters are in league to destroy the country - is aflame again, fanned from both right and left. Between the liberal fantasies about...
...example, Employer A, who does not offer health coverage, has 100 employees, 30 of whom receive a tax credit for enrolling in a state exchange offered plan. If the flat dollar amount set by the Secretary of HHS for that year is $3,000, Employer A should owe $90,000. Since the maximum amount an employer must pay per year is limited to $400 multiplied by the total number of employees (for Employer A, 100), however, Employer A must pay only $40,000 (the lesser of the $40,000 maximum and the $90,000 calculated...
...simple answer is that we are spending more this year from the endowment, more than we ever have previously, to smooth the transition to this new normal. But if we want Harvard to remain Harvard, we cannot do that for long, for every dollar of endowment we spend is a dollar that cannot generate income in the future...
...while the U.S. requires investments from China to finance its giant deficits - Beijing and Washington nevertheless routinely spar over a wide range of sensitive issues. The U.S. has accused China of manipulating its currency to unfairly promote exports, while China has openly called for the replacement of the U.S. dollar as the world's premier currency. But with so much at stake, the two nations have tried to keep their rapport cordial. In July, U.S. President Barack Obama called for "cooperation, not confrontation" with China...
...wasn't a crisis of government finances, as some pessimists had feared, but one of mortgages and Wall Street. As Washington battled the troubles, the deficit grew to an estimated $1.6 trillion in the fiscal year that ends this month. That's by far the biggest shortfall ever, in dollar terms. The government will have spent $3.7 trillion and taken in $2.1 trillion. Even by the more forgiving yardstick of percentage of gross domestic product, the shortfall is, at 11.2%, the biggest since World War II. It will be smaller next year but still huge by historical standards. At some...