Word: recessional
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Read "Britain's Out of Recession: So Why No Cheers?"
The U.S. is clearly in a debt league of its own. Obama's proposed deficit, representing about 11% of gross domestic product, is part of a 10-year plan aimed at reducing the U.S. budget shortfall from its current level to a still hefty annual average of 3.6% if everything...
Perhaps the worst part, however, is that deficits have risen the fastest in the euro-zone group, which requires members to limit their budget shortfalls to 3% of GDP. Many of these countries began exceeding that threshold before the financial crisis began and then went well above it after the...
How ugly? Greece is already scrambling to lower its deficit of nearly 13% to the E.U. ceiling of 3% by the end of 2012 under a European Commission plan to be endorsed on Wednesday. Spain is similarly promising to slash its deficit of 11.4% to just 3% by 2013, although...
Why all the stress about deficit spending - especially in the wake of the worst recession to hit the continent in a lifetime? Because the habit isn't new, and it is clearly harder to kick than governments pretend. Observers note that the borrowing kick has already lifted French public debt...