Instead, Egypt's jobless rate has risen to almost 13 percent in two years, from 9 percent, economic growth has slowed to 2 percent, from about 5.5 percent, and there are very few moves being made to restructure budget allocations.
He eventually cut the city work force by 65,000, froze wages, reduced services, raised taxes and restructured the budget.
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.
"We have got to restructure the budget and the organization".
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.
They say that governments have no credible exit strategy, that Greek debts will need to be restructured and that the budget rules that are supposed to limit member nations' budget deficits to 3 percent of gross domestic product have been used as a floor, rather than a ceiling.
She added that the €10bn "should not be on top of the current EU budget, but should be achieved by restructuring the current budget".
Obama should start by restructuring the federal budget to include a "capital investment budget" -- separate from PAYGO and the annual appropriations process -- which would be used for long-term investments in physical capital, R&D activities, and possibly human capital (education).
Other schools have found ways to lengthen the day using grant money, corporate donations, creative budgeting and restructured class schedules.
