Part of my criticism has been that we have pushed the boundaries into fiscal rather than monetary policy.
After leaning on his Wall Street credentials through much of the gubernatorial campaign, Mr. Corzine did little to push the boundaries of fiscal thinking beyond, say, raising the state's cigarette tax, which has already been tried three times in the last six years.
"The progressive blurring of boundaries between monetary and fiscal policy has increased the longer-term risks and side effects of crisis management measures," the Bundesbank said.
Buying up bonds and bailing out failing firms does indeed blur the boundaries between monetary and fiscal policy.
In the era of "quantitative easing", the boundary between monetary and fiscal policy has blurred.
What happened 60 years ago, as the world that John Maynard Keynes believed in – a world where the nation, and national boundaries, offered economic control and fiscal discipline – fragmented in the wake of war?
As the Bank nears what economists call "Zirp" - a zero interest-rate policy - the boundaries between monetary policy and fiscal policy, and the roles of the Bank and the Treasury, become blurred.
"We can only maintain the necessary pressure on politicians when the ECB limits itself to its primary aim of keeping inflation under control and doesn't jump into the breach for fiscal policy... we must set clear boundaries," Weidmann said.
The commission's upcoming proposals are part of a broader package leading to economic, fiscal, and political union that will redefine the boundaries of European integration.
There, the respective regions and their central governments have worked out an autonomous status that offers independence in cultural, ethnic and educational policies and fiscal and administrative autonomy, while maintaining the sovereign boundaries of the central government.
But the fire occurred in Sacramento, the budget-challenged capital of budget-challenged California, where city officials have been forced at times to test the boundaries of a particular factor in their fiscal calculations: risk.
