Word: fiscal
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...same time, the Senate is also expected this week to consider other energy amendments to the budget resolution being crafted. The House version of the budget, which is just a rough, nonbinding blueprint for Congress' spending priorities in the coming fiscal year, includes a provision that would allow health-care legislation to pass the Senate with a simple majority of 51 votes. Democrats have uniformly said they have no intention of piggybacking an energy bill in the same way, though the provision is sufficiently vague to allow for such a move. Just in case Democrats change their minds, an amendment...
...powers, plans were afoot to challenge a stage-managed G-20 consensus. Demonstrators took to the streets, and French President Nicolas Sarkozy and German Chancellor Angela Merkel sent out invitations to their own joint London press conference, to signal their determination to resist any Anglo-American pressure for additional fiscal stimulus and to highlight their demands for stricter financial regulation. They are not the only G-20 leaders to arrive in London with agendas that reflect divergent approaches to the economic crisis - and differing domestic pressures. (See pictures of the global financial crisis...
...market and the engine that drives a lot of economic growth worldwide," Obama said, hinting that this position may not be sustainable. "We're going to have to take into account a whole host of factors that can increase our savings rate and start dealing with our long-term fiscal position as well as our current account deficits." (See pictures of the global financial crisis...
...raised directly by either man, according to a senior U.S. Administration official, the joint statement released by the two nations said both countries want to deal with the underlying causes. "[Obama] underscored that once recovery is firmly established, the United States will act to cut the U.S. fiscal deficit in half and bring the deficit down to a level that is sustainable," the statement reads. "President Hu emphasized China's commitment to strengthen and improve macroeconomic control and expand domestic demand, particularly consumer demand, to ensure sustainable growth and ensure steady and relatively fast economic development...
...that are making those important steps lift everybody up," Obama said last week, in a prime-time press conference. But so far, European leaders have resisted the call for more stimulus. German Chancellor Angela Merkel has said she does not want to be bogged down by "artificial discussions" of fiscal stimulus, and like many of her peers would prefer to focus on fashioning a new regulatory structure to make sure the excesses and abuses that precipitated the crisis don't threaten the global financial system again. Other European leaders have also voiced skepticism over new discretionary-spending plans, arguing...