Word: roost
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Dates: during 2010-2019
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...Bill. Nor is fiscal probity anti-European - quite the contrary. Article 125 of the Lisbon Treaty, Europe's quasi-constitution, forbids bailouts for the reckless. Moreover, in the last few months the euro has lost more than 10% against the dollar, and the fiscal chickens have come home to roost. The central problem - as critics of the euro predicted before the currency's launch - is not Germany's tightfistedness; it is a common monetary policy without a common polity that sets fiscal policy. (See pictures of immigration in Europe...
Those skills have made Gates perhaps the most powerful Defense Secretary since Robert McNamara ruled the roost in the Vietnam War era. But for the left, Gates is a disappointing compromise, a constant reminder of Obama's reluctance to fully repudiate Bush's conduct of the war on terrorism. "Gates is an agent of change within his own empire and not within the broader national-security construct. That is the risk Obama ran. He covered his flank but didn't get change," says a Defense policy adviser. White House staffers are no doubt uneasy about their dependency on this...