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First, the fiscal crunch requires a different kind of state.
The fiscal crunch will be around for decades".
And the state has indeed spent the past few years facing a severe fiscal crunch.
But when this year's fiscal crunch demanded real spending cuts, Mr. Gates resisted.
Perhaps the fiscal crunch afflicting states and localities will increase that possibility.
This could be precipitated by a fiscal crunch, which looms soon after the election.
Similar(12)
His fiscal restraint is widely credited with helping the state emerge from a historic financial crunch and with persuading voters to approve new taxes.
Ditto "credit crunch", "financial crash" and "fiscal policy".
But he will still need to set fiscal policy, and the crunch will come in the autumn statement.
Add the indirect effects on the confidence of consumers and businesses, and the downturn will be deep.A recipe for recessionConsider the three ingredients for recession: a credit crunch, tighter fiscal policy and a dearth of confidence.
The IMF expects overall euro-zone inflation of only 1.5% in 2013, quite a bit below the ECB's target.The drop in euro-zone inflation will be largely caused by disinflation in the peripheral economies, where fiscal austerity and a credit crunch will squeeze wages and prices.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com