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The administration is expected to make deficit reduction a top domestic policy focus in 2010.
The only certainty is that nonwar military spending will have to be drastically reduced to leave room for unexpected military missions and to make deficit reduction realistic.
WASHINGTON — For his first annual budget next week, President Obama has banned four accounting gimmicks that President George W. Bush used to make deficit projections look smaller.
We believe these will slow economic recovery and make deficit reduction more difficult and that's something that has been demonstrated already by the impact of the cuts that have been imposed since 2010".
The Group of 20 leaders set that in writing this weekend, vowing to make deficit reduction the top priority despite warnings from President Barack Obama that too much austerity could choke a global recovery.
Balls did well in his first two years as shadow chancellor by saying repeatedly and correctly that Osborne's austerity plan would arrest economic recovery and make deficit reduction harder.
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Instead, Mr Obama urgently needs to make deficit-reduction one of the dominant themes of his fightback.
Finally, even pragmatic Republicans think the worst of Mr Obama's push for tax-rate rises, which he says are needed to make deficit-reduction sums add up.
Contrary to his rhetoric, Mr Kerry's plans do not make deficit-reduction central.Yet even if Mr Kerry is some way from Mr Clinton in terms of fiscal rectitude, it is unfair to line him up alongside Mr Bush.
These charges share commonalities: they were made in opposing the creation of an advisory bipartisan panel to make deficit-reduction proposals, and substantively range somewhere between hyperbole and distortion.
"Faster economic growth, doubtless, would make deficits easier to contain," he added.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com