Word: trillion
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Dates: during 2000-2009
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...expensive to buy, Asian central banks have intervened in foreign exchange markets and done something they are loath to do: Actually increase the dollars in their foreign reserves. "Asian central banks are accumulating even more dollars," says Credit Suisse's Desbarres. According to Citigroup, China's foreign reserves ($2.13 trillion as of June, including forward currency contracts) have increased 11.9% since the collapse of Lehman Brothers in September, 2008. Hong Kong's foreign reserves have shot up by nearly 40% over the same period. Economists point out that this new pile-up of dollars will do little to reerse...
...Congressional Budget Office, which determines the cost of legislation, has told Pelosi that the Medicare-pegged rates would lead to $110 billion in savings over 10 years, while negotiated rates would save only about $25 billion. Pelosi, who is trying to whittle the House bill down from its $1.1 trillion price tag closer to the $900 billion that both Baucus and Obama are targeting, is hoping to use these CBO estimates to convince Democrats who oppose a public option to come on board...
...already knew all this, of course. It happened just last year, and in recent weeks, the news media have engaged in an orgy of commemoration and explanation of the Lehman collapse and its aftermath. So here's the $64 trillion question: What, if anything, have we learned...
...down costs for families and long-term government deficits. But his numbers are hypothetical. "If we are able to slow the growth of health-care costs by just one-tenth of 1% each year," he announced in a recent address to Congress, "it will actually reduce deficits by $4 trillion over the long term." (See pictures of the angry health-care debates...
...much more determination than House Democrats in holding the fiscal line. According to the official government accounting, which leaves out most of the systemic changes, the current House bill would moderately grow the deficit over the next 20 years, while the Senate Finance Committee bill would save nearly $1 trillion in the same period...