deficit

Now think what will happen if, after two or more years of monstrous fiscal deficits, the US is still mired in unemployment and slow growth.

Perhaps oddly, financing these fast-growing deficits has not so far been a problem, at least for the major advanced economies.

Indeed, allowing deficits to increase put a floor under what otherwise would have been a calamitous collapse in demand.

Addams came to see that poverty was not due to character deficits, but social conditions that needed to be changed.

The EU is likely to crack down on excessive government budget deficits, which could prompt Italy to leave the currency regulation, it said.

Roosevelt was no ideologue. He had denounced the budget deficits of his Republican predecessor when running for president in 1932.

With developed economies still weak, many governments are (often rightly) keen to run large deficits for a while longer.

Use of these funds, giving more time to cut deficits, was intended to lessen the recessionary impact of trying to do so at once.

Cerebral palsy is often associated with impaired intellectual function, sensory deficits, behavioral disorders and seizures.

Like the U. S. , emerging markets in Eastern Europe were able to fund large current-account deficits in the recent era of cheap financing.

"Our intent is to get a clear agreement on the principles needed to achieve real progress on reducing deficits and debt burdens, " he said.

But it's unclear, to say the least, how the president can keep this taxes promise and deal with gaping deficits in the long run.

A fundamental requirement for the Asian model was that foreigners were able to run the requisite trade deficits.

In fact, we would be better off if governments were willing to run even larger deficits over the next year or two.

To do this over the next five years means an average improvement in structural budget deficits of 1 per cent a year in G20 countries.

He said he hoped the downgrade 'will give us a renewed sense of urgency' in tackling deficits.

And with East Asia, unlike with Europe and America, China tends to run trade deficits.

The White House predicted Obama's budget priorities would not be affected by the forecasts of bigger deficits.

He tried to blame someone else for the deficits. His lie did not work, however. He ended up in jail.

Governments are beginning to cut public spending in an attempt to deal with surging deficits.

Meanwhile, negotiations over a "grand bargain" to eliminate America's gaping deficits seem to hinge on sweeping tax reform.

It's easy to get up in front of the cameras and rant against exploding deficits.

As you know, it is racking up record deficits now, and these are expected to total some $9 trillion over the next 10 years.

Why should it be so easy to fund such huge fiscal deficits even after central banks have stopped their buying of government bonds?

Only a bit of this extra debt is down to the budget deficits run up in recession.

"Once you run current-account deficits, you depend on the kindness of strangers, " he said, pausing to let out a resigned sigh.

Even where troubled euro-zone countries had not been profligate, they have been running unsustainable current-account deficits.

Nor will the U. S. be able to run such large trade and current-account deficits, since financing them will become more expensive.

Some members of the president's own party say the upfront cost of switching to private accounts is too high at a time of growing deficits.

Only the U. S. economy and financial system are large enough, open enough, and flexible enough to accommodate large trade deficits.

"We simply cannot continue to spend as if deficits do not have consequences, as if waste does not matter, " he added.

Given the weakness of the recovery, adoption of a credible plan to address deficits over the next few years is the safest course of action.

But what also made these large deficits possible was the end of a common sense rule called "pay as you go. "

Republicans say measures that would worsen deficits have no place in talks designed to reduce them.

He said he is committed to working with both Republicans and Democrats to cut the country's burgeoning budget deficits.

In the best of worlds, it would be foreigners with ample reserves who suffer the losses, but they may be needed to finance future deficits.

We now think of America as a nation doomed to perpetual trade deficits, but it was not always thus.

Given the vital role that China has played in financing US deficits, Washington "should at least be a little nicer" , he says.

All this leaves one big question - what can countries like the US and UK do to reduce their deficits?

Many have argued that, within a currency union, current account deficits do not matter any more than between Yorkshire and Lancashire.

But standard textbook economics says that it's O. K . , in fact appropriate, to run temporary deficits in the face of a depressed economy .

But all this was just one more step in the broader effort to grow our economy and shrink our deficits.

Restoring the old currencies also would have been ruinously expensive at a time of already chronic deficits.

He said budget deficits are "a general problem for almost all the wealthy countries. "

The United States is bogged down with debt and deficits, and is in desperate need of a growth strategy.

The savings by freezing won't even pay the interest costs for the first three years of deficits that he's going to run.

But it is not stable to combine low yields, high deficits and governments that are happy to see their currencies depreciate.

While this increased the rate of growth, it also led to high fiscal deficits and a worsening current account.

But we do need to act convincingly to curb future deficits. Austerity can't be fun, but how painful it will be is still partially up to us.

To be sure, most of any increase in national savings will come from a reduction in budget deficits.

Moreover, the US tends to run current account deficits, for this reason.

The United States had some $88 billion in short-term liquid liabilities owed to foreigners asa result of the balance of payments deficits.

Worse, Germany does wish to see a sharp move by its partners towards smaller fiscal deficits.

If China were to run trade deficits, that would also significantly boost the overseas circulation of Chinese currency.

After all, the currency has no yield support, a continuing trade deficit and the prospect of endless fiscal deficits.

Similarly Germany has been shocked by the speed with which the recession has hit countries with surpluses as well as those with deficits.

When all countries are reducing deficits at a time of high unemployment they set in motion a downward deflationary spiral.

The US can act to tame budget deficits and set our economy on a sound footing for the next prosperity surge. Or not. It is our choice.

Americans ( not just "tea parties" ) are learning to fear deficits , but most still seem to hate tax rises and spending cuts even more .

Under Reagan, deficits increased sharply but seemed to bring back prosperity, moving Dick Cheney to remark that they did not matter.

This laziness resulted in over 30-years of merchandise trade deficits in most Western countries and the bankruptcy it has now led to.

Another risk lies in the fact that America depends on China to help finance its budget and current-account deficits.

Any lasting increase in rates would make it more expensive for the U. S. to finance those big budget deficits.

In an era of massive budget deficits, and rising Chinese power, the US will have to think harder about its priorities.

In contrast, when deficits do not lead to an increased supply of money, the evidence shows that they do not cause sustained price increases.

The latter were largely the result of the crisis: governments let fiscal deficits rise, as the private sector savagely retrenched.

More precisely, what Germany wants to see is a sharp cutback in fiscal deficits throughout the eurozone.

Rather it is the sheer scale of government deficits that seems to have triggered the change.

The latter would have to be pleased that governments could run still bigger deficits without increasing their debt to the public.

The banks can no longer afford to fund budget deficits, yet they cannot afford to see governments default.

The deficits would be even bigger if he used a more pessimistic, and therefore realistic, economic forecast.

But so far less than half of the OECD's member countries have detailed medium-term plans to reduce their deficits.

Even-handed economists consider such trade surpluses just as disruptive to global harmony as the corresponding deficits.

of the 1980s and early 1990s, however, the federal government continued to run substantial budget deficits.

One of the main causes of budget deficits in industrial countries, particularly in Europe, has been burgeoning public expenditure.

To be sure, the US government is increasing its budget deficits to put a floor under demand.

The children were physically healthy, and none suffered from serious attention deficits.

The US enjoys among the lowest interest rates in its history coincident with the highest deficits and a daunting long-term fiscal outlook.

As the engine of the world economy, double deficits in USA will be bound to have influence on the other economy entities .

The budget predicted big deficits every year for at least the next decade.

Are the latter now financially robust enough to run current account deficits safely?

I want to be very clear: I will not sign on to any health plan that adds to our deficits over the next decade.

The fact that the US borrows entirely in its own currency makes deficits safer for itself, but riskier for its creditors.

Companies that did not manage to develop good games saw their games unwanted and their profits turn to deficits.

Some current administration officials seem to think deficits are not a big issue.

I do not want them to be burdened with massive deficits we did not curb or a worsening economy we did not rebuild.

US President Barack Obama has laid out his plan for reducing record budget deficits and mounting national debt.

Fluid deficits can arise as a result of a range of conditions, including haemorrhage, dehydration, vomiting and diarrhoea.

It would make US-made goods a bit more affordable to Chinese consumers, which in turn could help reduce America's large trade deficits.

Current account deficits ballooned, with capital inflows accelerating up to the eve of the crisis.

Current account deficits ballooned, with capital inflows accelerating up to the eve of the crisis.

If governments had tried to close fiscal deficits, as they attempted to do in the 1930s, we would be in another Great Depression.

The United States and Europe are struggling with the long-term prospect of 10 percent unemployment and rising deficits and national debts.

'There are a lot of issues to be sorted out with government budget deficits still too high. '

This could erode the confidence of the very debt markets on which European countries rely to finance their large deficits.

Certainly over the long run the US must rediscover fiscal prudence and reduce its deficits or face a costly rise in borrowing costs.

Despite these pervasive, almost psychotic-like deficits, however, most children with autism do not show symptoms of schizophrenia.

Washington's ability to initiate a resurgence is limited by the long-term dangers of our deficits and our debts.

But by his first week in office in late May he was forced to rein in escalating deficits at the state-owned refiner.

In practice, the most likely outcome of such fiscal retrenchment would be a slump in countries with large external and fiscal deficits.

Meanwhile, greater effort has been made to let enterprises turn from deficits to profits, resulting in the rise of economic returns.

First , it should go without saying that the world balance of payments or patterns of savings surpluses and deficits must add up to zero .

In part, investors' concern about the U. S. federal budget and international trade deficits were found to be responsible.

The experience with Europe's stability and growth pact, which failed to do just that for public sector deficits, should serve as a warning.

and higher but more realistic borrowing rates might have curbed the budget deficits.

They worry that individual countries may default if they do not cut their deficits and that banks holding their debt will be clobbered.

This comes at a time when most European governments are slashing spending on science as part of larger efforts to plug budget deficits.

Like it or not, the main support for world demand has come from the budget deficits of advanced countries.

Dick Cheney, George W. Bush's vice-president, admitted as much when he told a cabinet colleague: "Reagan proved deficits don't matter. "

'Shanghai has been running deficits in the public pension program for years, ' he said.

Conditions that maximize comparative advantage do not automatically resolve trade deficits.

Take a look at the average fiscal deficits of 12 significant (or at least revealing) eurozone members from 1999 to 2007, inclusive.

The fact that these deficits are partly due to bailing out banks that took unwarranted risks will not strike sympathy among taxpayers.

Under the constitution, "structural" budget deficits (ie, those adjusted for the business cycle) have to be cut gradually almost to zero.

Those countries running current account deficits, most notably the U. S. , would have to define ways to boost savings.

And the dollar may also be gaining a following from those who focus on trade deficits as an important agent in foreign-exchange markets.

In a currency union, borrowers speculate on a bail-out and do not let exploding public and current account deficits bother them.

But it is not enough to rein in the deficits in reaction to what has happened.

Brazil and Mexico both have deficits of less than 2% of GDP, a far cry from the fiscal laxness of a few years ago.

The latter, to be sure, are not about to drain their savings and turn their current account surpluses into deficits.

Liability management exercises, adjusting risk-weighted asset models and retaining earnings will go only so far in closing capital deficits.

State government is in an even worse mess, with budget deficits stretching to the horizon and high and persistent unemployment.

Not to be forgotten are persistent and massive deficits and surpluses in the global balance of payments and associated capital flows.

Yet even if one accepts that these deficits must be tackled, huge questions remain over the timing and content of such action.

However, keeping up the pressure on countries with big deficits may prove difficult with a safety net in place.

It cannot be expected to underwrite other countries' deficits indefinitely. So some tightening of fiscal policies is inevitable.

The supply of cheap funding has created useful demand by commercial banks for government bonds, just as fiscal deficits are rising.

By far the best predictor of subsequent difficulties were the pre-crisis external deficits, not the fiscal deficits (see charts).

The net stimulus to demand imparted to the rest of the world depends on a decline in their trade surpluses or rise in their deficits.

Germany's muscular economic recovery is evaporating its own budget deficits, putting it in the best position to lead the initiative.

Electorates are likely to chafe at the cost of bringing down government deficits, especially ifthemain result is to repay foreign creditors.

Germany has a trade surplus so far this year, while France, Italy, Spain and the region as a whole have large deficits.

It has proved virtually impossible for emerging market economies to run large deficits, without running into crises.

China's big surpluses and America's big deficits depend on the real exchange rate between them and all of their trading partners.

A vastly better outcome would be bigger savings and a reduction in current account deficits.

These deficits in mental processes can be and often are passed on across the generations, only to reemerge in subsequent later generations.

"Doing the prudent thing about deficits now would be an extremely foolish thing, " observes Paul Krugman, a Nobel-winning economist.

For countries with large current account deficits, much of this growth will have to come from net exports.

Iran, mired in deficits, is in no position to help, compared to the still-flush Arab petro-monarchies.

The Gramm-Rudman-Hollings Act did not succeed in its stated aim of forcing down deficits.

Fiscal deficits have been allowed to rise and interest rates to fall to stimulate aggregate demand.

The MTA has forecast unprecedented deficits over the next three years, up to $1. 8 billion in 2010.

And a transactions tax could generate substantial revenue, helping alleviate fears about government deficits.

The likelihood of a financial crisis emanating from these deficits depends on China's creditworthiness.

But increasing private saving is not enough to raise US national saving if federal deficits remain high.

All these cuts add up, needless to say, for a federal budget already straining to the tune of trillion-dollar-plus annual deficits.

That the US and, increasingly, Europe, both running swelling trade deficits with China, are not happy about this is not news.

Trade deficits are made up for by remittances from emigrants and by foreign aid, overwhelmingly from New Zealand.

Republican lawmakers have criticized the president repeatedly for increasing government spending and running large deficits.

Yet ignoring the future is also costly. The problem is not the deficits in the next couple of years, but in the years that follow.

The researchers are excited to have discovered a possible mechanism linking the genetic variant to the behavioral deficits in schizophrenia.

Furthermore, I will argue, these imbalances are the result of a "fear of deficits" .

Increasing the neurogenesis may be a future therapeutic option to decrease the cognitive and behavioral deficits following stroke.

On the latter point: traditionally, the U. S. government ran significant budget deficits only in times of war or economic emergency.

Mr Obama is warning that there will be years of trillion-dollar budget deficits ahead.

Saving and deficits aren't the only economic factors that have different long-run and short-run effects.

It shook US voters' confidence in governing elites (to the continuing surprise of the elites themselves), and led to massive new deficits.

Countries with severe and persistent current account deficits were allowed to devalue their currency.

When countries with external deficits run out of foreign providers of private credit, they become dependent on foreign sovereigns.

The latter are not always opposed to lower deficits in 2011, given the scale of the current stimulus that is now being withdrawn as planned.

Bondholders would shun the debt of the departing country, and funding of budget deficits and maturing debt would be suspended.

Japan did not need foreigners to fund its government deficits.

After delivery, though, these deficits appear to reverse, at least in animals.

We can no longer afford to spend as if deficits don't matter and waste is not our problem.

Most developed-country governments have managed to finance these deficits fairly easily so far.

One of the big issues to discuss is how and when to reduce deficits and economic growth measures as conditions improve.

But if governments had to lend immigrants the money, the idea would not do much at first to reduce budget deficits.

Egypt still imports around $6 billion-worth of food a year and faces growing deficits in such things as edible oils.

One strength derives from an aspect of autism that has long been seen as one of its chief deficits: weak central coherence.

Mr Obama vows to slash it in half within four years, but that will still leave it bigger than the deficits for which he once lashed Mr Bush.

If that happens an old-fashioned currency crisis is conceivable in those markets with the largest current account deficits.

But Mr. Ryan is widely portrayed as an intellectual leader within the G. O. P. , with special expertise on matters of debt and deficits.

In contrast, eurozone members face years of austerity to reduce large fiscal deficits.

And by helping improve quality and efficiency, the reforms we make will help bring our deficits under control in the long-term.

Like America, Britain is still perceived as solvent by financial markets, giving it room to pursue a strategy of jobs first, deficits later.

Among the other risks: Persistent unemployment will mean less tax revenue, making it harder to chip away at federal budget deficits.

To hear the G-20 tell it, the U. S. and other top countries had better slash those budget deficits before the world comes to an end.

To be sure, exchange rates matter, and there's no way of knowing how large the deficits would have become if China and Japan hadn't acted.

China offers an excellent tradition of tenacious struggle , the end result of excessive deficits ahead , not forever .

The forum suggested that the United Nations should be charged with preventing large trade surpluses and deficits from building up.

But more important are measures that improve the long-term fiscal outlook in those countries with high deficits and debt.

Those deficits may have been necessary to avoid a repeat of the Depression.

Develop new product quickly, enhanced market competition ability, initiated new phase for make up the deficits and get surpluses.

If the private sector rebounds of its own accord, unemployment will fall and budget deficits will decline.

Sleep deficits weaken concentration, adaptability, multi-tasking and risk-assessment abilities, as well as loosening inhibitions.

The idea of imitating France, with its budget deficits and sickly manufacturing sector, seems bizarre.

It's not change to add more than $5 trillion to the deficits we've run up in recent years.

Investor proclivities to buy Treasury securities and dollars could finance the American deficits for a while.

"The first step to getting out of these deficits is honesty, " said Mr Orszag.

Pew also asked people how they would like to see states close their budget deficits.

To be sure, short-term management of debts and deficits matters enormously in planning for future sustained economic prosperity.

In Europe, governments from Greece to the United Kingdom have begun cutting spending and raising taxes to reduce budget deficits.

Learn to use your mirror constructively. Focus on the body parts you feel good about rather than dwell on deficits.

Years of rising fiscal and trade deficits will also necessitate hard choices in the years ahead.

Exploding fiscal deficits are mainly the result of collapses in activity and revenue rather than of bank bail-outs.

Let me be clear: good social policy does not mean running big deficits.

In the UK at least, the fiscal deficits are mirror images of private sector surpluses.

The pump-priming of government budgets through deficits and recapitalisation of banks offers only a temporary respite to the crisis.

A focus on domestic demand carries with it the danger of excess, of runaway government deficits and credit-fuelled growth.

Already, countries that have been dilatory in cutting their deficits have pledged to be more resolute.

Since current account deficits are the obverse of capital account surpluses, their current account deficits will automatically contract too.

capital exports and chronic balance of payments deficits forced the U. S. to formally suspend gold convertibility.

World War II produced the biggest deficits as a percentage of gross domestic product in U. S. history -- and an end to the Depression.

On the biggest worry of all, the budget, it may well take a crisis to force action, but Americans have wrestled down huge deficits before.

America would resist, because losing its reserve-currency status would raise the cost of financing its budget and current-account deficits.

Spain, Portugal and Ireland will be expected to help Greece even as they battle their own deficits.

Even so, deficits have not been large enough to sustain growth in line with potential.

During that period, the United States had a five million dollar trade deficits in live turkeys.

In fact, such moves would help reduce the long-term deficits by getting more Americans back to work and the economy growing again.

What every government has done when it faces sizable deficits is to simply print the money.

This is not surprising: today's fiscal deficits exceed those of any previous period, in peacetime.

On the more pressing question of how to close America's gaping deficits, Democrats and Republicans remain far apart.

Soft currency A currency with a falling exchange rate due to continuing balance of payments deficits.

In principle, again, current-account deficits can be closed without a slowdown in production.

Radical fiscal austerity plans among nations along the euro-zone periphery threaten to shrink gross domestic product faster than deficits.

Meanwhile, given the push to trim deficits, significant economic stimulus from the U. S. government is seen as unlikely.

Under the gold standard, countries used price and wage deflation as a means of adjusting to trade deficits.

In developed countries today, fiscal deficits are surely a consequence of post-crisis private retrenchment, not the other way round.

Making investments in reform now, investments that will dramatically lower costs, won't add to our budget deficits in the long term.

The US could then maintain its recovery only by continuing to run large budget deficits and again tolerating debt-financed consumer demand.

At the EU's insistence, the peripherals' priority is to slash their budget deficits regardless of the consequences on growth.

He notes that Greece and Ireland were given until 2014 to cut their budget deficits to 3%, a year longer than Portugal.

A bailout, however, does nothing to fix the misguided policies that have generated Greece's existing debt and ongoing deficits.

"The level of our structural deficits threatens the long-term survival of our economy, " he added.

Ideally, the effects would be only temporary: Once the light was turned off, those deficits would disappear.

DEBT Mr. Romney blames Mr. Obama for annual trillion-dollar deficits adding to what is now a $16 trillion national debt .

Knowing in advance the evolution of such spreads, member states would have a strong incentive to reduce their deficits.

The net amount of money needed by a government to finance budget deficits and maturing debt.

The current account deficits of the post-bubble countries have all diminished a bit.

Local property and residential taxes have been rising fast in recent years, as town halls try to curb their growing deficits.

They thought that budget deficits would stimulate growth under all circumstances, not just those of a deflationary depression.

Keynesians are right that deficits, so far, have been more a symptom than a source of economic distress.

The private sectors of the US, UK and Ireland are now providing nearly all the savings needed to cover their huge domestic fiscal deficits.

And with aging, health care cost increases, etcetera, the underlying chronic deficits will tend to rise, not fall.

Remember that declining trade deficits can be expansionary for the economy in the same way as increased government spending.

Up to the crisis, the counterpart deficits were run, roughly equally, by the government and the household sectors.

Such a child will have memory and cognitive deficits in this domain.

THANKS to the collateral damage from the financial crisis, government deficits have surged across the rich world.

The United States is facing record peacetime deficits, with no agreed approach in sight for cutting the drivers of debt.

If all shipping costs were excluded from the sums, China's surplus would be bigger but its trading partners' deficits would be smaller.

It seems that for countries that run deficits with China on consumer goods, China's trade growth may be a deflating factor.

Responsibility: The President recognizes that both parties and both houses of Congress must come together to reduce our deficits.

The weakness in the Greek economy and its big deficits should be expected when Germany's export machine is firing on all cylinders.

The stability and growth pact was designed to limit budget deficits, but nobody believed its sanctions would be enforced.

Rich European countries may need up to $1 trillion to cover their budget deficits and bank bail-outs.

Treatment for aphasia can be integrated with treatments for sensorimotor or cognitive deficits or can be provided separately.

Given its debt, its budget and current account deficits and its woeful lack of competitiveness, Greece cannot escape the debt trap.

But people are worried about it. And just saying that health care reform will not add to the deficits is not enough to allay those fears.

In all of these countries, therefore, increases in budget deficits were too small to offset increases in private sector savings.

In April, Mr. Beers and other S&P officials met with Mr. Geithner and others to press for details of the U. S. 's plans to cut deficits.