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That will also demand fiscal austerity.
If the problem is a lack of demand, policies that boost demand — fiscal stimulus, aggressive monetary policy — will help.
page A26 op-ed PAUL KRUGMAN It's politically fashionable to rant against government spending and demand fiscal responsibility.
But details are scant, even as many states have scores of "shovel-ready" infrastructure projects set to be axed.Cushioning America's downturn will demand fiscal boldness, but that does not mean eschewing simple, speedy solutions.
Concessions to British voters on immigration would inspire the southern countries to demand fiscal and banking reforms, eastern countries would seek budget changes, and non-euro countries would demand an end to their second-class status.
A temporary accord which rolled over repayments to the Fund runs out in August; Argentina needs a multi-year agreement in its place.Even with a substantial debt write-off, renewing Argentina's access to foreign credit will demand fiscal austerity, raising the current target for the primary fiscal surplus (ie, before interest payments) from 2.5% of GDP to perhaps 4%.
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The S.E.C. made an identical demand two days ago.
Motient refused the demand earlier this month, prompting the lawsuit.
The company is forecasting a 4.7% drop in aluminium demand this year, the worst in 20 years.
That should hurt demand: last year about 40% of new mortgages were for terms longer than that.
Doing so shaved about 25 megawatts off the peak demand this week, Con Ed officials said.
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