Word: exceedingly
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Dates: during 2000-2009
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...compliance with some of the act’s provisions, such as improving the quality of teachers, requires extra money that the government has not provided. Without the money necessary to attract capable teachers and administrators or pay for textbooks or classroom aids, even more modest proficiency goals may exceed the grasp of many struggling schools. Though the intense recession has threatened the amount of funding available to public services, it is still vital that we support our school system. The proper training of our nation’s youth will safeguard our future and provide a bulwark of human...
Under international accounting rules, the government should rightfully add the liabilities of those banks to its national debt. RBS's liabilities alone exceed the total national income of the U.K. Even excluding them, Brown is almost certain to break one of his own cardinal rules by failing to keep the total debt level below 40% of national income. Carl Emmerson, deputy director of the Institute for Fiscal Studies in London, estimates that Britain's budget deficit for the current fiscal year will likely grow from the government's planned 2.8% of GDP to about...
...problem of ballooning debt and deficits is the same elsewhere in Europe, especially in France, where the budget deficit was already perilously high before the financial meltdown. The consequences are that the E.U.'s rules stipulating that budget deficits shouldn't exceed 3% of GDP and that debt shouldn't go over 60% are about to be consigned to the trash heap - at least temporarily. "Fiscal rules are going to have to be abandoned," says Buckley of Deutsche Bank. The E.U. commission, which is the keeper of those rules, has already given its green light. "The existence of exceptional circumstances...
...unclear who is supposed to help or how. The favored solution so far - direct government intervention, like the $700 billion rescue package approved by the U.S. Congress or the British plan - isn't an option everywhere. Banks have become so big and so leveraged that their balance sheets can exceed the gross domestic product of the country in which they are based. That's the case in Belgium, the Netherlands and a host of smaller countries, including Iceland, where on Oct. 6 the Prime Minister warned about the possibility of a "national bankruptcy" because several banks with assets larger than...
...obvious was the ability of real estate, which has always had a slightly rakish air, to drag even the most respectable and conservative parts of the economy down with it. Other problem areas, like Social Security, also have a Ponzi-scheme flavor: the claims on some pile of money exceed the size of the pile. In many of these schemes, the average American plays both the victim and Ponzi himself...