Word: long-running
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...That still leaves the question of Social Security's long-term financing needs, which will be reassessed soon in the system's annual trustees' report. But a couple of years of below-expected payroll-tax receipts shouldn't dramatically change that forecast - and whatever long-run deficits the trustees project for Social Security will pale beside those expected for sister program Medicare...
Over the short term, this can seem like a positive; we can get away with running a federal deficit that could hit $2 trillion this year only because of the dollar's status as global reserve currency. But borrowing trillions isn't really a ticket to long-run prosperity. In fact, the current economic crisis may have been spawned by huge imbalances in global trade and capital flows that are in part the product of the dollar's special status. Global demand for dollars supplanted demand for U.S. products and services, argues Columbia University economist and longtime SDR fan Joseph...
...Michele Bachmann of Minnesota to make the claim that Obama was out to ditch the dollar. Actually, the dollar would live on in an SDR-dominated world. It would no longer reign supreme, but neither would the yen or the euro or the yuan. Which might be the best long-run outcome the U.S. can hope...
...even the $10 billion increase in funding for the National Institutes of Health in President Obama’s one-time stimulus package could do little to change this uncertainty over the long-run, researchers said...
...unemployment rolls. But education cuts hurt society in subtler ways as well. They can undermine the long-term prosperity of the nation, denying the America of 10 or 20 years from now the well educated workforce it will need. Harvard economics professors Claudia Godin and Lawrence Katz have estimated that increasing education led to a 0.37-percent rise in productivity among American workers since 1915. Education cuts threaten to stifle this growth and jeopardize American productivity and long-run economic expansion. This effect could be particularly disastrous given that local political factors often prevent education cuts from being easily reversed...