A reasonable budget goal would be to reduce annual deficits to the point where the debt — the sum total of annual deficits, now $9 trillion — is no longer growing faster than the economy.
Global oil extraction is no longer growing faster than population, and demand in China and India is growing especially fast.
If the rate of growth in overall health care is restrained so it is no longer growing faster than the rest of the economy, Medicare's long-range financial deficit could be cut by well over one-half.
On the other hand, if the rate of growth in overall health care is restrained so it is no longer growing faster than the rest of the economy, Medicare's long-range financial deficit could be cut by well over one-half.
But the world, and Korea, have changed.Korea is rich, so it can no longer grow fast by copying others.
That would mean the debt would no longer grow faster than the economy, removing the threat of economic harm from a too-high debt burden, and giving policymakers time to deal with the real driver of long-term debt, health-care costs.
In fact, pond fish live longer, grow faster and attain larger sizes than marine fish both in laboratory and the wild [ 44, 45].
The Mexican birth rate has dropped; the population is no longer growing so fast, and fewer youngsters are heading for working age.
But as China's growth cools amid a global slowdown, Macao's gambling revenue is no longer growing as fast as it once were, and competition between the growing number of casinos is fierce.
