Moreover, the party is somewhat split over how aggressively to pursue deficit reduction, with many liberals warning that fiscal contraction could set off a double-dip recession as well as crimp their agenda.
More worrying for Pedro Passos Coelho, the prime minister, is that the IMF line is echoed by President Aníbal Cavaco Silva, also from the centre-right, who has written that it is wrong to pursue deficit goals "at any cost".Another concern is the rift in the coalition over the budget.
WASHINGTON -- The unveiling of President Barack Obama's budget on Wednesday morning has restarted the ongoing debate over how best to pursue deficit reduction.
The [Democratic] party is somewhat split over how aggressively to pursue deficit reduction, with many liberals warning that fiscal contraction could set off a double-dip recession as well as crimp their agenda.
The president also plans to urge the special debt committee to devise job-creation measures and to pursue larger deficit cuts than mandated by the recently passed Budget Control Act.
First, he cleverly made the case that "economic credibility", pursued via deficit reduction, was not some abstract goal born of ideological dogma, but one that ensures low interest rates, keeping "people in their homes".
They will not be pursuing deregulation and deficit reduction.
And Republicans are hoping that if they win enough seats in 2010, Obama will turn into Bill Clinton redux, pursuing compromises on deficits and entitlement reform in lieu of more liberal legislation.
Hungary's budget deficit of 10% of GDP is the result of depressive macro-economic policies, which have increased the country's huge foreign debt and trade deficit by pursuing a strong currency to meet euro entry requirements, squeezing Hungary's few export industries in the process.
He said this meant financial discipline, getting down the deficit and pursuing growth.
