Word: washington
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Dates: during 2000-2009
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...good, either. The U.S. covers the shortfall by issuing more government bonds, which can drive up interest rates and lead to inflation. Deficits also make it harder for a financially strapped government to deal with unexpected disasters. In fact, the last U.S. budget surplus occurred in 2001, when Washington was able to use fiscal and monetary policies to cushion the fallout following 9/11 and keep the economy from tumbling into a recession...
...would likely be the first such law to emerge amid the Great Recession. (A Pennsylvania judge last year mandated a program in Philadelphia that requires lenders there to at least participate in a modification-mediation process before resorting to foreclosure.) John Mechem, spokesman for the Mortgage Bankers Association in Washington, D.C., argues the ordinance is "ill-conceived" because it would "encourage banks not to do business [in] the city, which would limit competition." But even if it doesn't pass, the effort reflects the impatience many communities have with the banks they believe helped lure them into the housing horror...
...flawless - he was slow to grasp the crisis and start yanking interest rates down toward zero, and market watchers will forever second-guess the decision to let Lehman go under. But overall he's been courageous and innovative and (so far) successful. And while he's fairly new to Washington, he's shown a flair for politics and p.r., doing a memorable 60 Minutes interview at the height of the crisis, providing an important vote of confidence for Obama's stimulus package and getting the theater as well as the substance right at several key congressional hearings. (Read "Bernanke Defends...
...government will eventually be unable to withstand the tide of ill will generated by accusations of election-rigging, prisoner abuse and forced confessions. "This group succeeded in grabbing power, but can they solve the problems? Satisfy the people? Have good relations with the world? Solve unemployment?" he told the Washington Post Aug. 18. "Problems will not be solved, and people will be more unhappy...
...sanctions against Libya had proved useful for the West not only in pursuing the perpetrators of the Lockerbie bombing, but - perhaps more important in the minds of Washington and London - boxing in one of the developing world's most persistent troublemakers, who had spent two decades making mischief throughout Africa and the Middle East. Having largely achieved that objective, Britain and the U.S. may be in no great hurry to resolve the Lockerbie standoff...