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Spanish unemployment soared, and the budget went into deep deficit.
That is both politically realistic and economically sound because deep deficit reduction before then would risk derailing the economic recovery.
The chancellor has staked his entire reputation – and the future of the economy – on bringing Britain's deep deficit under control.
Despite a growing demand for places, funding cuts in response to the state's deep deficit have meant that students have had to be turned away.
With private sector final salary schemes across the country in deep deficit, employers are desperately looking for ways to reduce future pensions, or are closing schemes altogether.
But Coach Brad Stevens's healthy players still operated within their winning system, and Washington's lack of execution against the Celtics' substitutes resulted in a deep deficit.
Similar(29)
It will be high taxes and deep deficits.
Future budget surpluses will rise, not fall". Tax revenue falls, and the budget goes from surplus into deep deficits.
The medical center, which oversees the children's hospital, has reported deep deficits in recent years and its credit rating plunged to near junk-bond status last winter.
The state is also hobbled with deep deficits and will be hard-pressed to find more money for transit without raising it through new taxes.
Extending the high-end Bush tax cuts would add another $700 billion, an unaffordable and unnecessary giveaway in the face of deep deficits.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com