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The long duration also implies that the cumulative shortfall in output from debt overhang is potentially massive.
The cumulative shortfall over the years undoubtedly exceed $3.4 billion, which means the settlement is a bargain.
According to the C.B.O., which came out with its latest projection in September, the period from 2005 to 2014 will see a cumulative shortfall of $2.3 trillion.
The main goal is to reduce a cumulative shortfall of about 25 billion euros, or nearly $31 billion, in paying for the cost of generating power for Spain.
Nationally, the Lib Dems were pushing for higher expenditure on public services long before this year's Wanless report, commissioned by Gordon Brown, that documented the staggering £267bn cumulative shortfall in NHS investment over 30 years compared to average European investment.
The period since then does include a meaningful cumulative shortfall:Mssrs Mian and Sufi reckon that an inflation shortfall implies that monetary policy is no longer capable of hitting a particular price level or inflation rate.
Similar(46)
The university has had a deficit for four of the last five years, growing to a cumulative $12.3 million shortfall as of June 30 , 2013
The cumulative supply shortfall – the authors estimate that potential output is now 7% below the pre-2007 trajectory – may be larger than the current output shortfall attributable to the ongoing lack of aggregate demand.
And the Center for Budget and Policy Priorities estimates that the states' cumulative budget shortfall will likely reach $140 billion in the coming year.
According to the National Conference of State Legislatures, states are relying on the money to close more than a fourth of the $89 billion in cumulative budget shortfalls projected for the 2011 fiscal year, which starts on July 1 in 46 states.
Now, since we have lived beyond our means as a nation for nearly 40 years, our cumulative current-account deficit — the combined shortfall on our trade in goods, services and income — has reached nearly $8 trillion.
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