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And that will be followed by huge additional deficits, year after irresponsible year, extending far off into the horizon.
That means that the federal government can run budget deficits year after year, racking up ever-higher debt.
He recently told journalists, "Suppose for a minute that we were talking about a developing country that had gaping current account deficits year after year... a budget ink spinning from black into red... open-ended security costs, and a real exchange rate that had been inflated by capital inflows.
Dolphin points to the fact that, as the power of finance grew, Britain consistently ran trade deficits, year after year: "It produced a casualness about the decline of manufacturing and the collapse of all competing sectors which is really quite jaw-dropping".
"In the face of huge budget deficits year after year and the worst credit rating among the 50 states, our two political parties can't come close to agreeing on the right path forward," the new governor said, as the lawmakers in his audience sat in still silence.
Even as the U.S. runs federal deficits year after year with no end in sight, problems elsewhere still drive investors into Uncle Sam's arms.
Similar(54)
The number of maximal scores on each of the surveys was studied to determine which instruments continued to reveal deficits years after TBI.
However, there is some evidence that occupational lead exposure may continue to cause progressive cognitive deficits years after exposure [ 49, 79].
The state budget has been in deficit year after year.
Yet even in the worst deficit year of the Depression, the deficit totaled 5.9 percent of gross domestic product.
Imagine you had to watch your successor as treasurer deliver a budget offering a credible plan to steadily reduce the deficit, year after year.
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