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All items tagged budget deficitGlobal Must Read ArticlesSeptember 15, 2011 | Cutting Defense to Save the EconomyAs the bipartisan “supercommittee” prepares to find ways to cut the deficit by $1.5 trillion, Democrats are proposing tax increases for America’s highest earners. ++ Instead of raising taxes, legislators should focus on cutting US defense spending. ++ The national debt cannot be reduced without making serious cuts to the US defense budget. ++ National security depends more on a healthy economy ... MoreSeptember 14, 2011 | Britain Rejects EU Defense ProposalAn EU plan to create a defense-planning headquarters in Brussels has been met with harsh opposition in Britain. ++ As European countries struggle to balance budgets, British politicians see the proposed European project as costly and unnecessary. ++ While the UK is willing to play a central role in NATO’s foreign and defense policy, it is increasingly distancing itself from European ... MoreFebruary 3, 2010 | US Deficit Projected to Shift World OrderPresident Obama has projected that it will take at least ten years to eliminate America’s budget deficit. ++ The US could face a situation similar to the one Japan did—as its debt rose, its influence worldwide declined. ++ “How long can the world’s biggest borrower remain the world’s biggest power?” ++ For this reason, Obama hopes to wind down the war in ... MoreJanuary 27, 2009 | What's With the Republicans?Republicans are very slow to understand that their policies have worked against America. ++ Their illusions are reflected in their doubts over the President’s stimulus plan: they argue that it legitimates excessive spending at a time when the continuous shedding of labour requires conservative spending. ++ G.O.P policies which redistributed wealth to those on the top of the income ladder ... MoreJanuary 19, 2009 | New Taxes: Solution Out of Financial CrisisThe new US government has opted for raising taxes in an attempt to exit the financial crisis: a necessary step indeed considering the dangerous state of the economy as a result of the huge budget deficit accumulated during the Bush years. ++ The problem is that “the country has an idiotic income tax system” and as such it will not be sufficient to “fill more than a small part of the revenue ... MoreDecember 2, 2008 | The US Needs to Spend to Overcome RecessionPublic spending, especially on infrastructure and new technologies, is needed to build up steam in this stagnant economy. ++ Building up more state debt and increasing the budget deficit is nothing to worry about right now. ++ Cutting back on spending would do nothing to lower short term interest rates, which are already close to zero. ++ A tight budget could bring long-term rates down a little, ... MoreNovember 18, 2008 | Europe's Economy Needs Cooperative EffortsTo answer the G20’s calls for budgetary stimulus, Europe needs a three-part recovery program. ++ EU member states must pledge to equally share the burden of recovery. ++ Because many countries will exceed EU deficit limits, budgetary boosts need to be accompanied by an agreement to strengthen the EU’s fiscal framework. ++ Member states should make a commitment to avoid borrowing at ... More |
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