The speech, titled "The Global Saving Glut and the U.S. Current Account Deficit," offered a novel explanation for the rapid rise of the U.S. trade deficit in the early 21st century.
Just days before more than a half trillion dollars in tax increases and spending cuts kick in, a chasm now separates Congressional Republicans from the president, even though the latest deficit offers from the White House and speaker are numerically very close.
A11 NATIONAL A14-24 Senate BusheTaxroposal Spurns Many Bush Tax Cuts President Bush's plan to extend his tax cuts over the next five years ran into resistance in the Senate as Republican leaders, uneasy about the potential impact on the ballooning federal deficit, offered a budget for 2006 that would undo more than a fourth of the tax cuts that Mr. Bush is seeking.
Republican Budget Plan Reins In Bush Tax Cuts President Bush's plan to extend his tax cuts over the next five years ran into resistance in the Senate as Republican leaders, uneasy about the potential impact on the ballooning federal deficit, offered a budget for 2006 that would undo more than a fourth of the cuts that Mr. Bush has requested.
Stocks rarely react to trade data, but today's report of a wider-than-expected trade deficit offered a rare bearish sign in the economy.
Under a formal SAP, a struggling poor country running a big trade deficit would offer fiscal austerity in return for favourable borrowing terms.
Still, the spread between deposit and loan rates remains relatively wide, and measures of profitability at the biggest Cypriot banks have not shrunk as steeply as they have at their counterparts elsewhere in Europe.For officials looking for a voter-friendly way to raise revenue to plug the deficit, banks offer an enticing target.
The 28-percent bracket was part of the president's deficit-reduction offer last month.
The draft proposal by the chairmen of President Obama's deficit-reduction commission was a welcome antidote to the low-minded debate that dominated the midterm elections, in which politicians all vowed to reduce the deficit but offered no credible plans.
While these studies have concluded that female mice are more vulnerable to AD-related deficits, we offer two additional interpretations: in mouse models of AD, 1) female gonadal hormones are more deleterious in female brains than male hormones in male brains or 2) male gonadal hormones are more beneficial in male brains than female hormones in female brains.
