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You can't eliminate the deficit without jobs and growth because tax revenues fall and borrowing rises.
In economic jargon the debt-growth relationship was not "linear", with growth rates gliding steadily downward as borrowing rises.
But his political base — a majority — has not protected the economy, which is suffering as the currency loses value and the cost of borrowing rises.
As the companies' cost of borrowing rises, so do mortgage rates for homeowners, putting more pressure on the troubled housing market.
9.44am GMT UK public borrowing rises as spending outstrips income Back to the UK, where public finances continue to look pretty bad.
And, as Japan showed, once inflation turns negative, the real cost of borrowing rises because nominal interest rates cannot fall below zero.
Similar(51)
Consumer borrowing rose 10.2 percent in March.
Consumer credit and credit card borrowing rose, but borrowing on loans and overdrafts fell by £0.2bn.
Borrowing rose by 0.5 percent, or $954.8 million, to $2.44 trillion in April, the Federal Reserve said Monday.
Those purchases came as government borrowing rose to pay for bailouts and recession-related spending.
If the government's cost of borrowing rose, the government's profit would decrease.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com