Many other risks remain, including the possibility that as market pressure eases, governments may step back from painful but necessary bank restructuring, budget cuts and long-term economic overhauls because of political and social opposition.
In his new post he successfully gained control of Pentagon operations and the military bureaucracy, encouraged the modernization of the armed forces, restructured budget procedures, and cut costs by refusing to spend money on what he believed were unnecessary or obsolete weapons systems.
"We have got to restructure the budget and the organization".
Although the council has just completed yet another restructure, the budget will also strip a further $7.2m from its funding over the next four years.
Weaknesses: Last year's restructuring and budget reduction reduced the team to 450 employees from 700.
He eventually cut the city work force by 65,000, froze wages, reduced services, raised taxes and restructured the budget.
Gen Houghton said the forces were still in the "early days" of restructuring after budget cuts.
Only when changes that enhance capital mobility take place and when employment is increasing at a faster clip, can the federal and state governments attend to the long-term task of fundamentally restructuring their budgets and optimizing their spending and taxing processes.
The way government could allocate more additional resources for children would be through intra-sectoral restructuring of budgets for the social sectors.
FREE TRADE'S GREATEST FAILING Europeans have been debating for weeks the Agenda 2000, a plan to restructure the EU budget, including a reduction in agricultural subsidies.
