fiscal

That consensus is fraying. Just as it has on the wisdom of more fiscal stimulus, opinion is starting to polarise on monetary policy.

Government spending and investment are also likely to have been positive as fiscal stimulus measures continued to have an impact.

At least some of the extra fiscal spending will go towards a number of new major infrastructure projects, including new airport terminals.

Its total GDP already exceeds that of Germany. In terms of fiscal management, it has outperformed both the US and Europe.

Fiscal union is now officially on the European agenda in the run-up to the last European summit of the year on December 9.

The biggest part of Mr Obama's "jolt" , as he made clear, must be fiscal.

Deeper fiscal reforms will have to wait a year or two for the economy to regain strength.

Judged by the claims of those who welcome the new fiscal austerity, as well as those who fear it, a gigantic fiscal blow is about to land.

Despite the fiscal crunch, many fathers welcome the new sense of proportion that tends to accompany their outlook shifts.

Consider the case of Spain, which on the eve of the crisis appeared to be a model fiscal citizen.

China has announced increased fiscal spending, but it also seems to be taking steps to protect its export sector.

The recent fiscal consolidation measures made the matter far worse by widening an already formidable deflationary gap even wider.

Just as an inflation target is important, but does not by itself make central bankers credible, so a fiscal rule is a start, not a cure-all.

A more enlightened Chinese currency policy is at least as important a component of that co-operation as greater probity in US fiscal policy.

Now, as a fierce fiscal retrenchment begins, the bank is expected to cushion the impact by keeping monetary policy looser for longer.

Without a transparent public inspection, CTG cannot fairly cite "fiscal difficulties" as justification for mass retrenchment, said the ATJ.

It did not help that the fiscal rule books have had to be thrown out in the past three years.

Congress and the White House could help by coming up with a fiscal consolidation plan ready to deploy once the recovery is secure.

He recognizes, however, that this dream of a second fiscal stimulus is unlikely to materialize.

Some colleagues on the Bank's independent Monetary Policy Committee thought the governor should keep his nose out of fiscal policy.

But now, after more than three decades in the wilderness, Keynesian-style fiscal policy seems to be staging a comeback.

He said Japan's tight fiscal profile, with its huge deficit, is a 'limiting factor' in putting together its stimulus plan.

If you think the goal was to solve the country's fiscal crisis, then obviously the Super Committee was a complete failure.

But he said "near- term challenges must not be allowed to hinder timely consideration of the steps needed to address fiscal imbalances" .

"If we continue down on the path on which the fiscal authorities put us, we will become insolvent. The question is when, " he said.

Slowly and grudgingly the US may finally be starting to close its deficit as well after years of naive Keynesianism and fiscal opportunism.

Floor return The amount of annual investment income projected at the beginning of the fiscal year for the Bank.

The point is, the medium-term fiscal problem is fundamentally different from the long-term fiscal problem.

But FEMA on Monday indicated that it had sufficient cash reserves to sustain itself through the end of the fiscal year, Friday.

Meanwhile, the question remains whether private demand will pick up once fiscal and monetary stimulus measures are withdrawn, he said.

Healthier fiscal positions have allowed governments at least to attempt to substitute for the sidelined Western consumer.

He said he wanted to restore fiscal responsibility.

How much of this economic weakness was due to the fiscal tightening?

The earthquake and its associated rebuilding costs might have left Japan more vulnerable to a fiscal crisis.

The president seems to understand that the fiscal plan presented in his budget is not sustainable and, as such, is not really a plan at all.

"This really aims at sending a strong message in terms of commitment to fiscal discipline, " she said.

No doubt the speed with which monetary and fiscal stimuluswas brought to bear has also helped.

Finally, European governments seem to be competing to carry out the most drastic fiscal adjustment.

"Japan's economic recovery is expected to accelerate toward the latter half of the current fiscal year, " he said.

In an ideal world, the pain of a structural-reform programme would be cushioned by an expansionary fiscal policy.

The IMF's numbers suggest that, on our current fiscal trajectory, the US has no more than 15 more years of additional borrowing capacity.

And true fiscal conservatives understand that trying to run the world is neither conservative nor cheap.

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.

He said he was thinking in terms of "this fiscal year" to introduce charges.

The ratio was at least 4% in the most recent fiscal year, and there was no accumulated loss in the most recent fiscal year.

There is also the question of how much trust investors will put in a currency with no central fiscal authority to stand behind it.

But only a year ago Italy's sluggish economy and fiscal problems inspired talk about a break up of the euro.

Growth has slowed due to this fiscal tightening, yet Subbara and his colleagues remain fixated on trying to get inflation under control.

Some investors, no doubt, see faster growth on the way; but a growing number are worried about the size of America's fiscal hole.

He said weaknesses of the monetary union, which lacks monitoring and enforcement mechanisms, have contributed to the current fiscal woes.

The last time I wrote about this subject, The Atlantic's own Clive Crook called me a "fiscal sado-conservative. "

A fiscal stimulus worth a total of around 1. 4% of GDP a year may lessen the pain, even if it is not big enough to end it.

Beijing has chastised the U. S. for fiscal recklessness, but it may be headed for an economic collapse of its own.

(break off) They broke off business relations with that company as it suffered huge losses in the last fiscal year and went bankrupt.

China has been running conservative fiscal policies in recent years, which gives it a lot of room to expand spending in a downturn.

Only a handful of countries have ever accomplished such a fiscal feat, and it has never been tried by so many countries at once.

To that extent at least, the Republican, who once used to be a fiscal conservative, has less to lose in the crunch.

They argue that it would be better to do nothing now, wait for an old-fashioned fiscal crisis to force the issue, and then start again.

The Federal Reserve System , or the Fed as it is usually called, is the fiscal agent of the United States .

Mr Obama has repeatedly said he would not support a temporary deal because it would not address the nation's fiscal issues.

With luck, the cross-party fiscal commission the White House set up in February will provide political cover for this to be done.

This means that at the end of a year (calendar year or fiscal year) a Muslim has to calculate what amount must be paid for zakah.

Consumer sentiment has hit its lowest point more than a year in the U. S. during part of the recent debate over the fiscal cliff.

Mr Sarkozy said the measures will form the basis for an agreement on fiscal governance at a European Union summit on Friday in Brussels.

At least, that's the buzz among efficiency mavens, who seem to spendall their time adding up microblogging's fiscal toll.

The Franco-German proposal to transform the EU or at least the eurozone into a fiscal union is such a project.

Also currency markets might see the fiscal cost as a good trade-off against the bigger risk of letting the U. S. slip into a deep recession.

With economies around the world under siege, it could be at least a year before any of his fiscal policies dramatically affect stocks.

Thanks to its population growth and the dollar's role as a global currency, America has more fiscal room than any other big-deficit country.

We're looking at at least another two or three years of very troubling fiscal signals for cities and municipalities.

We do not know with certainty the willingness of investors to hold increased public liabilities associated with the fiscal stimulus.

Taking account of these facts, there is a strong unity of purpose among the world's policymakers to address our fiscal fragilities.

Mr Hurt, however, sees the enthusiasm of Mr Perriello and his Democratic colleagues for this sort of spending as "fiscal recklessness" .

Economists are now, as you know, comparing Britain's fiscal condition with Greece's.

In thinking through the fiscal policy options and their implications, it might be useful to compare a few hypothetical, fanciful scenarios.

AT the end of each fiscal year, the company shall prepare a financial report and shall be examined and verified as provided by law.

'More fiscal stimulus would be the most obvious thing to do, ' he said, backing a position held by many Democrats.

"A budget has two sides and looking at it from only one side is a bad way to address fiscal problems, " he said at the Reuters Summit.

Terrified by the consequences of the euro's failure, they have urged fiscal union on the eurozone as a means of shoring up the currency.

In some instances, incomplete accounting of the budget has been used to conceal the reality of our fiscal situation.

One might disagree on how much deliberate fiscal loosening was needed.

If fiscal stimulus is no substitute for financial clean-ups, it is an important support at a time of slumping demand.

He spoke, too, as if a large fiscal stimulus would be enough to restore prosperity.

"Fiscal stimulus is critical but could be counterproductive if it is not timely, targeted and temporary, " he said.

In a sense, medium-term fiscal policy is all about saving for a rainy day.

But he doesn't favor more stimulus now, saying 'lags in monetary and fiscal policy actions' should be allowed to 'work through the system. '

There is often a longdelay between discussions of a fiscal stimulus, enactment of a law providingfor the stimulus, and the actual spending.

The Demand Siders are brilliant, but they write as if changing fiscal policy were as easy as adjusting the knob on your stove.

However desirable they might be on their merits, they would be an ongoing fiscal burden, regardless of the state of the economy.

Circumstances will force the next president to be a fiscal conservative on matters other than temporary stimulus and financial stability.

However desirable they might be on their merits, they would be an ongoing fiscal burden, regardless of the state of the economy.

Circumstances will force the next president to be a fiscal conservative on matters other than temporary stimulus and financial stability.

This has been better than expected and the outlook is still broadly reassuring despite the big fiscal retrenchment over the next four years.

The crisis and its fiscal and monetary aftermath destroyed the rich old world's credibility as a purveyor of any sort of financial wisdom.

But workers who worry about being laid off are unlikely to go spend, regardless of how much money fiscal stimulus puts in their pockets.

Until recently, a move led by Mr Nakagawa and Mr Shiozaki looked as if it might derail passage of the next fiscal year's budget.

That is all that it does. There is no need for fiscal integration or any other sort of oversight or control.

In a speech to the Bundestag in Berlin, Merkel said the time had come to stop talking about a fiscal union and start creating one.

There is no sign yet that investors are panicking over the size of the fiscal deficit or the lack of any medium-term austerity plan.

The UK's fiscal contraction may be the least bad policy, given the risks. We do not know. Reasonable people may.

The UK's fiscal contraction may be the least bad policy, given the risks. We do not know. Reasonable people may.

In the long run, it will only help if it mutates into a fiscal union.

It would not be a threat to Mr Osborne's main fiscal target or to the bond markets' good faith.

How much room is there for more fiscal stimulus?

The point of this thread is recession, especially as it pertains to current government fiscal and monetary policies.

Such a focus would have been hard to imagine during the ill-tempered fiscal battle between Mr Cantor and Mr Obama earlier this year.

If fiscal policy as a left- wing economic take -off , then monetary policy is no doubt that it is the right - wing.

But Samaras said the new Democratic Party will not accept any form of fiscal austerity.

I disagree with the conclusion but agree with one of the premises: that discretionary fiscal policy was a disappointment during the crisis.

Ideally, fiscal support for banks should be targeted, if it is needed at all. Bail-outs are often limited to just one institution.

In fact, an unconditional ECB bail-out could be dangerous, just as a eurobond would be if not accompanied by a fiscal union.

The result has been a huge public bail-out of the banking sector and a massive fiscal and monetary stimulus.

So the Obama team believes that for the next 18 months or so, it would be a mistake to let deficit concerns steer government fiscal policy.

His view chimes with that of the Obama administration, which is warning against premature fiscal and monetary consolidation.

Revenue from China contributed no more than 3 to 4 per cent to the company's total revenue in the latest fiscal, he said.

Concerted fiscal restraint could trigger another recession, but the lack of it could end up in bigger default risks.

In its most recent communication with investors, Brevan said the "enormity" of the fiscal challenges in the US were only now becoming clear.

But these will fail if Germany insists that fiscal discipline is all that matters.

A year ago there was much scepticism about whether the huge fiscal boost it announced for its economy was genuine.

That said, the possibility of such shocks should always be a counsel for caution when a government embarks on fiscal tightening.

To see why, note that the Fed has taken on implicit fiscal responsibilities as part of its response to the crisis.

The Federal Commission on Fiscal Responsibility and Reform said the program will run a $600 billion deficit during the next 10 years.

But it may also suggest investors think the long-term fiscal position of many governments is not sustainable.

For at least two decades the US has been unable to provide monetary stability, financial regulation and fiscal rectitude.

Finally, the eurozone is moving towards fiscal tightening, with the offset, at least for the moment, of a weaker exchange rate.

On the political side, the long-term fix to the euro's malaise is said to be a fiscal union, a true political federation.

As I said, it has nothing to do with helping Wisconsin deal with its current fiscal crisis.

But, ISI also notes, every dollar of stimulus extended now will add a dollar to the extent of the fiscal contraction felt a year later.

Ireland is doomed to fiscal stringency for decades, given its poor growth prospects, at least in comparison with its Tiger years.

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

Except in a default, they avoid any fiscal transfer of the kind that would be anathema to the euro zone.

If we were at the beginning of an ordinary cyclical recovery, the combined fiscal and monetary policy response would be reasonable.

Yet the fact remains that this will undermine the long-term fiscal position.

The Mac was one of the few products that failed to live up to expectations in the June quarter (Apple's fiscal Q3).

Even the most cohesive and determined government would be hard-pressed to get out of this kind of fiscal mess.

He said it was unclear whether private demand would be strong enough to pick up the slack when fiscal stimulus fades in 2010.

It is no surprise therefore that even fiscal conservatives, like the Germans, are now borrowing as if there is no tomorrow.

Unlike in developed markets, economies seem to have developed real traction after unprecedented fiscal and monetary stimulus.

But he said the discussion shouldn't distract from the central issue of tackling Greece's fiscal problems.

It was meant to be reassuring, but it mostly served to emphasise how much the Fed has become entangled in fiscal and financial policy.

Rice said the Bush administration will ask Congress for $400 million in economic support for Palestinians for the next fiscal year.

First, they said, the stimulus, as well as the fiscal 2009 budget legislation, may not provide the psychological boost the economy needs.

"So-called comparative effectiveness research" is central to any rational attempt to deal with America's fiscal problems.

What matters for the overall fiscal position isn't just how much gray revenue is raised but how much is spent.

How much did fiscal tightening contribute to Japan's steep recession of 1998?

That means continuing to let the Renminbi appreciate, while directing any fiscal stimulus in the direction of households.

The U. S. government used to fight inflation with monetary and fiscal policies. But nowadays these two weapons are no longer effective.

The company doesn't report profit by country but said in October that it had a 'small overall loss' in China in the fiscal first half.

In short, getting to the point where our economy can thrive without fiscal support may be a difficult, drawn-out process.

It has not, as conventional wisdom now goes, been a fiscal failure, except in Greece.

So I decided to set up a different kind of foundation, one that would focus on America's key fiscal-sustainability challenges.

On Tuesday, the company said its fiscal third quarter revenue rose 82% from a year earlier.

It said there was a need for fiscal consolidation in many countries as part of the rebalancing effort and said this should begin in 2011.

From fiscal year 2012, the retailer will open Uniqlo stores in China at the rate of more than 100 a year, he said.

"Monetary stimulus alone is not enough - it must be combined with fiscal stimulus if you want more bang for your buck, " he noted.

The Government of Chad has stated that the proposed changes are needed to boost revenue to its budget at a time of fiscal crisis.

At the end of the fourth month of that fiscal year, the total amount actually spent on the project was 4580.

The decision of Greece, and its bankers, to ask Beijing for cash to fund its yawning fiscal deficit should come as no surprise.

A year ago they tore up the rule book to bail out Greece and to ward off market attacks on other fiscal reprobates in the euro area.

An example of this duality is the fiscal grip of the central government compared with that of the 17 regions.

Fiscal policy makers should not allow the current account gap to widen during periods of solid national economic growth, he said.

The clear and detailed programme for restoring fiscal stability that everyone seems to believe is necessary would not happen.

Just as monetary easing has not resulted in any surge in lending, the bears also think the fiscal element will run out of steam.

He said: "Fiscal and monetary stimulus together may provide broader support for the economy than monetary policy actions alone. "

And sceptical students scoffing at his protestations of fiscal rectitude did not stop Mr Geithner claiming Chinese backing for US policies.

The fiscal outlook is grimmer than before, therefore we should spend less on health care reform than I used to think.

Fiscal consolidation would not be ignored: it would just not be the only priority.

If governments do not have credible fiscal tightening policies in place at this point, the bond market could react violently.

It is far from clear that any huge temporary fiscal stimulus will rev up the engine enough to achieve self-sustaining growth.

On its definition of deficit-cutting, the fund finds that fiscal contraction tends to reduce GDP and increase unemployment.

U. S. stocks fell as worries about fiscal turmoil in Europe and a drop in technology stocks offset positive reports on the U. S. economy.

A monetary union may require more than just a eurobond and a small fiscal union.

"A large part of his most immediate programme is already set out in the fiscal consolidation plan demanded by Europe, " Ceberio said.

Japan, which has more experience than most with fiscal stimuli, is at the front of the global pack.

it's a final step and trying to find the final solution to avoid the looming fiscal cliff about automatic tax hikes and spending cuts.

Peripheral governments could then ease the degree of fiscal cutbacks to encourage economic growth and, with it, political risk.

Others warn that the bond purchases could invite reckless fiscal behavior by governments, a phenomenon often referred to as 'moral hazard. '

The special micro printer for fiscal cash register adapts the C language to program which easy to maintain and update.

"Japan needs to move forcefully on many fronts, " combining fiscal, structural and monetary policies, to tackle its problems, he said.

Is there scope for adding fiscal measures that would contribute 1 per cent of GDP or more over the next year and a half? Absolutely.

The economy must be weaned off the exceptional support, both fiscal and monetary, it has received during the recession.

The US faces a rather easy to manage short run fiscal crisis, and very challenging long-term fiscal and growth problems.

Lotito has always maintained that his cost-cutting measures were necessary to help the club out of their dire fiscal position.

On the company's fiscal fourth quarter earnings call last month, Mr. Cook said, "I'm not religious about holding cash or not holding it. "

At the end of a fiscal year, the system carries forward the balance of the P&L account to the retained earnings account in SAP.

Notice that the value for each fiscal month is equal to the total value for the fiscal quarter, as shown in the following image.

The point is fundamental: exceptional monetary and fiscal measures are not the root cause of the danger.

The European Central Bank sets interest across the 16-member euro zone but has no direct power over members states' fiscal policies.

The end of the stability pact will be a victory rather than a defeat if it leads to new ways of monitoring and controlling fiscal policy.

The method used in the Harvard study would not count this as a case of fiscal tightening.

He did not mention that a run of bad inflation figures (up to 4. 4% in February) has made a fiscal U-turn trickier.

Despite this record, the media tends to cast Gates as a fiscal skinflint fighting for the taxpayer.

Another worry is whether Mr Kan can push through a reform of the fiscal system to help ease strains on the public finances.

Represents the quarter ordinal of a year in a fiscal calendar.

It cannot be stated too strongly: US fiscal policy is not exhausted (nor is monetary policy, for that matter).

Represents the day ordinal of a week in a fiscal calendar .

In the Bank, this is at the end of the fiscal year for the regular and reimbursable budgets and after three years for capital budgets.

So Eurobonds inexorably lead back to the question of fiscal, and hence political, union.

Europe will be pursuing austerity, China is trying to rein in bank lending but America has opted for another fiscal stimulus.

"Inflation has historically been a powerful force to deal with fiscal and real adjustments, " Barclays said.

Some still argue that the only way to stabilise the euro in the long term, is to move towards a "fiscal federalism" modelled on the US.

He said one way to mitigate this risk would be "through some greater exchange rate flexibility " offset by fiscal consolidation .

They said "the case for a massive global fiscal stimulus continues to grow" .

This, like Mr Brown's fiscal expansionism, was supposed to put an end to "stop-go" in the British economy.

Yet if the euro zone needs more fiscal federalism to survive, politics seems to preclude a Maastricht-style leap towards integration.

eg. It would be far more sensible to make plans for fiscal retrenchment that are explicitly contingent on how the economy recovers.

In return for more outside help, Greece's government has agreed to more fiscal austerity and yet bolder reforms, including privatisation.

Most people believe that fiscal consolidations are helpful in the long run. Expecting them to be painless looks like wishful thinking.

Represents the week ordinal of a year in a fiscal calendar .

Tax rises right away would be a rotten idea, since for the moment fiscal stimulus is needed.

As I write this, there is a story on the front page of The New York Times "Cuts to Head Start Show Challenge of Fiscal Restraint. "

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

Unlike in past downturns, the government's fiscal position was strong enough to allow it to pump up spending to see off trouble.

The treaty stipulated that there would be no bail-out of a country that got into fiscal trouble.

It was applied to a fiscal revolution, licensing deficit finance to pull the economy out of depression.

Most observers rightly interpret this increasing shared fiscal liability as a step in the direction of a European common bond.

Fiscal policy has made a comeback, not because its flaws have disappeared, but because the alternatives don't seem to be working.

Other economists believe that fiscal policy should not be used for economic stabilization under any circumstances.

The scenario analysis for the long-term effects of a large fiscal stimulus is shown in Table 2.

And yet what we actually got was an underpowered response on both the fiscal and the monetary fronts.

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

When a government is in an unsustainable fiscal position, spending more money does not improve the economy.

It will pay its workers a day late at the end of the fiscal year so that the expense will show up in next year's budget.

The fiscal conservative of the governing left-of-center party appears to have little support among the public.

Ms. Merkel said the path to fiscal union was irrevocable, but that it could take years to overcome the crisis.

Still, budget experts said the final deal was historic since it changed the tone of the fiscal debate in Washington.

The Treasury estimated in December that fiscal retrenchment building up to more than 5% of GDP would be needed to fill the hole.

Central-bank 'independence is lost when monetary policy is tied to the wagon of fiscal policy and then loses control over prices, ' he said.

They resent the fact that Greece and Ireland enjoyed years of prosperity and still found themselves in fiscal trouble.

These decreases were partly offset by an increase in the balance of the banking system and placements received from fiscal reserves .

In particular the combination of a continued fiscal stimulus and a credible commitment to consolidation struck the right balance.

If BHP is going to raise its bid, analysts do not expect it to happen until after it declares its fiscal 2010 results on Wednesday.

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

And the economy is about to get a fiscal boost, as millions of Americans receive their tax-rebate cheques in the next few weeks.

"But, as Romer and others have stated, now is probably not the right time to impose fiscal stringency, " he said.

Fiscal policy could have been tighter. But the result would have been a depression.

The U. S. and the euro zone already have had to confront unsustainable trends in fiscal entitlements programs.

"Developed countries must undertake responsible fiscal and monetary policies, " he said.

Liquidity did not seem particularly tight in recent days, possibly because fiscal deposits were quickly deployed.

Second, this budgetary boost needs to be accompanied by an agreement to strengthen the EU's fiscal framework.

And despite clear signs of economic weakness, there is no let-up in the pressure for quick monetary and fiscal tightening.

"We're getting more disciplined on the fiscal side and that's supportive for U. S. rates markets, " he said.

All are careful to sound as if they believe that fiscal privation is the road to salvation.

A leader of the Greens' "realist" wing, he cares as much about fiscal discipline as he does about renewable energy.

It is wrong in this context to believe that the only choice is further fiscal stimulus versus a repeat of the Great Depression.

The U. S. is a net debtor with an aging population, weaker economic growth and risks of continued monetization of the fiscal deficit.

The collapse of our fiscal position is no more than the mirror image of this shift in the balance between private income and spending.

Second, wartime economies were essentially closed, so there was no leakage of fiscal stimulus.

This it has to do, not instead of the required fiscal adjustment but in support of it.

Its public finances are in good shape, with its public debt at less than 20% of GDP and its fiscal balance improving rapidly.