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A few recent data points suggest pretty strongly that my ask has been granted in the following sense: there will be a lot less fiscal drag this year than last year.
--Less fiscal drag: There was already going to be less fiscal drag next year, and this figure does not include reduced drag from the deal under discussion.
Many emerging markets, the report notes, have less fiscal room to battle a slowdown than was true in 2007.
Had we known, when the Thai programme was signed in August 1997, that Asia, including Japan, was heading for major economic slowdown, less fiscal contraction would have been recommended.
If so, more of last year's boost to revenues will turn out to be transitory, and there is less fiscal tightening built in for future years than the Treasury believes.
Less fiscal stimulus and a slowdown in the United States will reduce economic growth to 2.1% from 3.2% in 2010.To watch: Counting Canadians.
Similar(38)
"I'm spending less this year.
(It is less today by about 15 percent).
It would likely fetch less today.
Children read him less today, he added.
"We were going to take less this year".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com