Word: moneyitis
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Well, yes, at some point it does have to start mattering. But one of the great mysteries of modern politics and economics is where exactly that point might be. When the Federal Government runs a deficit, it has to borrow money. It does so by selling Treasury securities, ranging from short-term bills to 30-year bonds, on which it pays interest. This is like you or me borrowing to cover a shortfall or buy a house, with a crucial difference: countries are, in theory at least, immortal. They can keep rolling over their debts indefinitely. The U.S., with...
Then came the Panic of '08. Investors saw Treasuries as a safe haven and poured money into them, driving down interest rates. Officials in Washington spared no expense in battling the crisis. The result is a deficit of unprecedented size but with no perceptible pressure from financial markets to reduce it. No pressure so far, at least. The federal debt, at $7.6 trillion, is now above 50% of GDP and rising. The government faces commitments to Social Security and Medicare that dwarf that figure. Republican congressional leaders have decided they care about deficits again - and seem to be making headway...
...it’s become almost inevitable: You go online, you try—really try—to read something worthwhile about the health-care debate, or Iran, or even something as innocuous as just how much money the famed photographer Annie Leibovitz actually owes. But then, inexplicably, you find yourself clicking through a slideshow about Michelle Obama’s summer wardrobe, and it all goes downhill from there...
...attended the fair two years ago as a recruiter. And Mount said the recession market may also favor underclassmen and graduating seniors who are competing for the more widely-available entry-level jobs, rather than mid-level positions. The fair generates revenue for OCS, which will use the money to help support fall programming. —Staff writer Danielle J. Kolin who can be reached at dkolin@fas.harvard.edu...
There is no record of her leaving the building in surveillance tapes from some 75 cameras stationed around the building. Her ID, money, credit cards, and purse were found in her office...