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This means that even if Mr Levy's fiscal drive works—he is aiming for a primary surplus of 1.2% of GDP Brazil will be nowhere near the black.
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Still, the expansion fell short of analysts' expectations for Japan, whose economy grew at a robust pace of 3.8 percent in the previous quarter, helped by the Abe government's monetary and fiscal stimulus drive.
PAGE 29 A FISCAL TEST DRIVE The privatization of a toll road that slices through northern Indiana could be instructive for New Jersey, where Gov. Jon S. Corzine has considered privatizing New Jersey's toll roads.
Fiscal woes driven by age-related expenses plague every level of government in the United States.
To avoid such woes, the world needs fiscal policy driven not by faith, but by reason.
At a lunch with reporters, Mr. Boehner said that the nation's dire fiscal position, driven by health care spending, would confront Washington next year "regardless of who wins the election".
America does have a long-run fiscal problem, driven by the combination of rising health costs, an aging population, and the unwillingness to raise taxes to pay for the programs we already have.
A row over the fiscal 2011 budget might not alarm investors too much; a fight over authorising money that ultimately could be needed to pay international creditors is quite another thing.And then, of course, comes the even greater challenge of dealing with America's medium-term fiscal problems, driven mainly by an ageing population and the steadily rising cost of health-care programmes.
The government's inability to accomplish this task with fiscal resources drove inflation up to levels that were inconsistent with a healthy economic performance.
The new year's battle over the fiscal cliff drove home how dysfunctional our nation's political system has become.
The fourth-quarter weakness is going to drive fiscal 2001 earnings down 5%, to $1.50 a share.
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