Exact(2)
Over an even longer horizon, the present value of the permanent imbalance is estimated at around $10 trillion, a number Mr Bush loves to repeat.These numbers can be hard to interpret, but the larger point is that Social Security is on an unsustainable trajectory, one that goes well beyond the retirement of the baby-boomers.
"What's unique at this point, relative to all the nation's history, is that the long-term budget is in permanent imbalance," says economist C. Eugene Steuerle, a Ford, Carter and Reagan Administration Treasury official who's now vice president of billionaire Peter G. Peterson's new antideficit foundation.
Similar(58)
The hard part; because they are more entrenched, are what we call "structural" deficits -- the more or less permanent imbalances of revenues and expenditures arising from flaws in a state's fiscal structure, fundamental changes in the regional economy or the state's demographics, or, especially, imprudent or shortsighted policy choices.
The southern countries are so uncompetitive compared with the others, especially Germany, that there are permanent trade imbalances that will destroy the euro, Mr. Tilford said, unless European leaders either fix the imbalances or accept more political and fiscal integration.
But the continuing weakening of the dollar due to our permanent trade imbalances will eventually have the same effect on imports as high tariffs.
Europe is unthinkable in permanent stress, with perpetual imbalances in its midst.
In economics jargon, the UK seems to be suffering from an extreme variant of the Houthakker-Magee effect – named after two economists who discovered in 1969 that price elasticities for imports and exports could diverge substantially, giving rise to a permanent tendency towards current-account imbalance.
One of the key questions regarding imbalances is how long these last: Is the imbalance temporary or permanent?
This procedure has a long tradition in estimating the permanent component of growth considering other indicators of imbalances, such as the unemployment rate (see, for example, Clark 1989).
Higher ITL was associated with high psychosocial stress (measured by effort reward imbalance and job strain) [ 31], non-permanent positions [ 21] and dissatisfaction with the ability to choose method of working [ 25].
Other studies on experimental animals indicate that nutritional imbalance during pregnancy and lactation may lead to permanent modification of food intake due to developmental plasticity in the hypothalamus [10] [18].
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