An unexpected increase in Britain's EU budget liabilities further agitated Tory back benchers.
But Supavud Saicheua, an economist at Phatra Securities, a local investment bank, estimates all off-budget liabilities at 8% of GDP at worst a hefty figure, to be sure, but not enough to provoke fiscal meltdown.Yet even if Thaksinomics has not fulfilled sceptics' fears, it has not lived up to its author's expectations either.
One of the Chief Financial Officers (CFO) (Case B) expressed this aim: "We already provide a set of well-developed instruments of financial management (e.g., cost accounting, budgeting, accrued liabilities).
The €20bn "upper estimate" in the FT's analysis would cover the UK's share of continuing multiyear liabilities, including €241bn of unpaid budget appropriations, pension liabilities of €63.8bn and other commitments totalling about €32bn.
Budget includes $100,000 of liability insurance as well as loss-damage insurance in the cost of the rental, but the deductible may be higher than for an ordinary car, so read the rental agreement carefully.
They include mediocre schools, stratospheric pension liabilities, budget deficits, crumbling infrastructure and flagging economic development.
"An unlimited budget would be a liability," Ken Loach once told me when I asked what he would do with infinite funding.
Despite the Republicans' confidence in their ability to counter the Democrats, the Senate race in Montana offered evidence that some party leaders recognize that the Ryan budget could be a liability.
Democrats see Ryan's budget as a real liability for Republicans.
Mr. Kennedy, president of Merchandise Mart Properties Inc., was in his Mart office last week explaining the global context from which to view Chicago's present and future — notwithstanding the encroaching deluge of budget deficits and pension liabilities.
