"Taxes" is a dirty word, and proposals for subsidies and tax breaks would increase governmental deficits.
Despite the new wealth, extravagant spending led to governmental deficits and foreign borrowing in the 1950s.
In this time of rising governmental deficits throughout the developed world, I believe that we will find greater collaboration between for-profit companies and academic centers.
This failure to legislate, combined with the virtually singular focus on the governmental debt and deficit, has pushed the social contract to the outer edge of the radar screen for many elected Republican legislators -- especially in the House.
These include faltering competitiveness, unsustainable fiscal deficits, broken governmental services (Naples is choking on uncollected garbage), corruption and a bureaucracy that wastes unbelievable amounts of everyone's time and money.
From multinational negotiations about global warming to governmental spending decisions that deepen budget deficits, immediate concerns often rule the day.
Thus the same mechanism that caused our trade deficits also increased our governmental debt.
What should we be doing about the legions of jobless Americans, the deteriorating public schools, the debilitating wars, the scandalous economic inequality, the corporate hold on governmental affairs, the commercialization of the arts, the deficits?
The reasoning of the WB and IADB was that the user fees will counter the fiscal deficit by generating revenues to finance the new governmental agencies.
JM: The deficit problems can be completely explained by too much governmental spending.
