To the extent that scarce hard currency resources must be outlayed to repay debt obligations, such funds are unavailable for urgently needed investment and other stimuli to economic growth.

CENTERFORSECURITYPOLICY: Center for Security Policy | Doomsday Scenario: Aspin Nomination Sets Stage For Dellums Chairmanship, Grim Tidings For Defense Community

For activity to pick up this year, PE funds would need to see stronger economic growth ahead.

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If the Scottish Parliament chooses to tax more for better equity outcomes, it could be at the expense of less efficient use of funds, or of economic growth.

BBC: Alex Salmond and David Cameron