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At the beginning of this year the two sides nearly pushed the country into recession amid yet another fiscal stand-off.
The implication was that Republicans should agree to another tax increase in exchange for spending cuts that together would help stabilise America's ballooning debt and avert the various fiscal stand-offs that loom.
But Mayor Michael R. Bloomberg, who has built his mayoralty around taking a tough fiscal stand, may find that better times translate into tougher politics, especially in the year before he begins his re-election bid.
Congress should have passed a more generous package, he said, but worries about the nation's fiscal position stood in the way.
Under current eurozone rules, no fiscal authority stands directly behind the ECB.
The fiscal deficit stands at 30% of GDP, and foreign reserves have slumped to $116m.The danger facing Mr Nasheed is that the global economic turmoil dents tourism and condemns the Maldives to hard economic times and divisive politics.
Does Peter Petersons push for fiscal reform stand a chance in an era of trillion-dollar deficits?
Now, California while not an example of fiscal responsibility does stand near the forefront among states willing to tell everyone what is best for them.
The improved economic growth means that the fiscal deficit, which stood at 11% in 2010, will fall to 6.8% this year assessed on the "underlying basis".
City services deteriorated over the last decade as the federal government tried to come to grips with a ballooning fiscal deficit, which stood at more than $20 billion in 1994.
No matter its grinding civil conflict, Colombia boasted sound fiscal management that stood in contrast to its reputation as chaotic and violent.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com