Word: war
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Also weighing on the dollar: investor concerns that to balance a budget deficit expected to swell this fiscal year to $1.85 trillion - equal to 13% of the country's GDP, a level not seen since World War II - the Federal Reserve could simply resort to printing more money, further flooding the markets with dollars. While the central bank said on June 24 that it had no plans to expand its purchase of government or mortgage bonds beyond the $1.2 trillion earmarked for the purpose in March, not everyone is convinced. "There is always the nagging concern that if this...
General Colin Powell, Former Secretary of State "ABC" The spirited lyrics, the dancing and the joy of watching these five handsome, clean-cut youngsters pouring their hearts out moved me then and moves me now. It was the early '70s, a time of war, a time of political turmoil, a time of the counterculture and domestic unrest. They made us smile with their freshness and their cute 'fros. We tapped our feet, felt good watching them, and our cares left for a few minutes...
...reached 10 years ago. "Gross overspending and fiscal irresponsibility will not be tolerated by the people of California," says Senate Republican Leader Dennis Hollingsworth. Liberals, however, see this as an attack by the right on the public infrastructure that helped make California an economic giant, and an act of war against the poor and minority populations in particular...
...Iraq's industry has gone to seed in the decades of war and sanctions, as well as the expulsion of foreign oil companies by Saddam Hussein in 1972. But its potential remains massive, especially when compared with the dwindling reserves of the North Sea, the fact that most Middle Eastern fields are already being pumped, and that new deposits elsewhere offshore and in the Arctic are remote and expensive to develop...
...Honduras is stuck in the past, much of the rest of the world seems to have moved on. In contrast to the U.S.'s record of having backed right-wing coups throughout the Cold War, U.S. President Barack Obama, along with the rest of the international community, was quick to condemn this latest Central American upheaval. His position has prompted a telling change of attitudes on the streets of Tegucigalpa. The leftist protesters are praising the U.S., which they normally would consider an evil empire, and urging it to help them restore Zelaya. Meanwhile, those in the halls of power...