Word: gdp
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Last year British Prime Minister Gordon Brown raised his country's top marginal rate for income tax to 50% from 40%. This came on the heels of a decision to borrow more than $1 trillion over the next five years, bringing his country's public debt to 79% of GDP by 2013. There has been the expected backlash from the superrich, but the majority of Brits don't seem to mind so much...
...right, but selling a European-style VAT to Americans is a bit like selling snake poison and would likely mean political suicide for any of its supporters. That said, there's no hiding the fact that the ratio of public debt to GDP is expected to balloon from...
...dynamic knowledge-based economy" by 2010. But the bloc fell far short of its goal of overtaking the U.S. and Japan, and even failed to meet its self-imposed economic targets. For example, that plan also called for E.U. research and development spending to increase to 3% of GDP, but only Sweden and Finland currently meet that threshold. (See the top 10 financial collapses...
...last major quake to hit Port-au-Prince was in 1751.) There will, of course, be the apologists who insist it's unfair to compare a basket case like Haiti, the western hemisphere's poorest country, with a showcase like Chile, which has Latin America's highest per capita GDP and is set to become the first South American member of the exclusive, Paris-based Organization for Economic Cooperation and Development (OECD). Chile can do things right, Haiti defenders argue, because it's more developed...
...beginning to show in the alliance's commitment and long-term health. "Right now, the alliance faces very serious, long-term, systemic problems," Defense Secretary Robert Gates said last week. Budget shortfalls - only five of the 28 members are meeting the alliance's goal of spending 2% of their GDP on defense - are hurting the war effort. The resulting dearth of helicopters, cargo planes and spy aircraft is "directly impacting operations in Afghanistan," Gates said...