Word: shrinkings
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Which leaves net exports. The last time the U.S. actually exported more goods and services than it imported was in 1980, and a positive trade balance isn't in the cards anytime soon. But if U.S. consumer spending remains anemic, a rebound overseas could shrink the trade deficit and thus boost the economy. There's just no concrete evidence of that happening yet - the March trade figures, released on Tuesday, showed exports declining faster than imports for the month. Over the somewhat longer term, the big question is whether the global economy can be rebalanced in a way so that...
...seems defeatist to suggest that the best approach to the news of the rising deficit is resignation. It is an admission that there are no other alternatives left to shrink the gap. But, that is almost certainly the case. The Administration will have to be forgiven for its slip. The change in the numbers was outside its control...
...Chevy •utter and total lack of public demand - or even, really, tolerance - for the return to network television of is ignored by NBC, which announces plans for the weekly infliction on viewers of in the new show Community, whose ratings are guaranteed to be miniscule at first and shrink dramatically once audiences are exposed to the noxious presence...
...cuts permanent while adding about $3 trillion in new tax cuts skewed toward the rich. It would replace almost all the stimulus - including tax cuts for workers as well as spending on schools, infrastructure and clean energy - with a capital gains-tax holiday for investors. Oh, and it would shrink the budget by replacing Medicare with vouchers, turning Medicaid into block grants, means-testing Social Security and freezing everything else except defense and veterans' spending for five years, putting programs for food safety, financial regulation, flu vaccines and every other sacred government cow on the potential chopping block...
That's an understatement. During the first three months of this year, China, which in 2004 overtook Italy to become the world's fourth most visited country, saw the number of international visitors drop by more than 7%, and its foreign-tourism revenue shrink by more than 15%. In Spain, year-on-year arrivals dropped by 16% in February - the country's sharpest decline in years. And in the tropical islands of the Caribbean and South Pacific, it's a case of surf, sand and empty beach chairs. In February, French Polynesia reported a 30% drop in year-on-year...