Deficit Reduction News
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Updated 53 minutes ago
German business confidence rose more than economists forecast to a seven-month high in February as Europe’s largest economy bucks a recession that’s gripping the region’s southern fringe.
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Updated 48 minutes ago
Europe’s economy will shrink in 2012, with Italy and Spain facing sudden crunches as they battle to escape the debt crisis, the European Commission said.
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Updated 44 minutes ago
Spain’s economy will relapse into a recession in 2012 and additional austerity measures may worsen the slump, the European Commission said.
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Updated 40 minutes ago
Rick Santorum’s opening act as a freshman senator in 1995 was an attempt to strip the title from the Republican chairman of the appropriations committee, which determines government spending.
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Perhaps my biggest frustration with the U.S. news media (and yes, I am a card-carrying member) is that we permit the two parties to decide what is “left” and what is “right.” The way it works, roughly, is that anything Democrats support becomes “left,” and everything Republicans support becomes “right.”
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Presidents often trade imperfect policy for political expediency, and the tax proposals in President Barack Obama’s fiscal 2013 budget are a good example. In stitching new bits and pieces to an already Frankenstein-like income-tax code, the budget is a showcase for muddled aims producing bad policy, especially when it comes to taxing investment income.
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A weak labor market, like the one we’ve experienced since the financial crisis in 2008, imposes enormous stress on people. Given the added anxiety created by a weak economy, you might think life expectancy would decline. Oddly, though, during recessions, exactly the opposite tends to happen: Life expectancy rises.
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Gilts snapped three days of declines as concern that Greece will struggle to implement the austerity measures in its bailout plan boosted demand for the relative safety of U.K. government bonds.
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Europe is still struggling to avoid the threat of default as investors warn Greece will soon risk violating the terms of its second bailout in three years.
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Britain posted the biggest budget surplus in four years in January, increasing pressure on Chancellor of the Exchequer George Osborne to provide some stimulus for the economy in his budget next month.
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