But it quickly recovered as exports revived and stimulus measures helped spur growth.
In the Senate, Democrats and Republicans began negotiating to revive an economic stimulus package, which died at the end of last year among deep differences over what shape it should take.
Though European leaders insist they still plan to adhere to goals for achieving balanced budgets the next several years, most private economists are extremely skeptical that they will succeed, given the growing pressure for fiscal stimulus to revive economic growth.
But rather than following the Obama model of introducing a short-term fiscal stimulus to revive growth and tax revenues, Osborne and his boss David Cameron opted for the cut-and-slash policy methods of Andrew Mellon and Philip Snowden — in an effort to balance the budget by 2015.
Japan does need massive fiscal stimulus to revive the economy, but thus far has wasted zillions of yen on politically directed projects, such as paving rural river beds, rather than funding productivity enhancers like more roads where they're needed.
Think about that - the taxpayers lay out 780 billion dollars as a stimulus to revive the economy.
Based on his 2008 campaign and 2009 exigencies, President Obama's mandate includes two huge and imminent priorities -- an unprecedented "stimulus" to revive the economy and a plan that gets us out of Iraq.
TOKYO, June 13 (Reuters) - The Nikkei average tumbled 6.4percentt on Thursday, hitting its lowest close since April 3 - the day before the Bank of Japan unveiled sweeping stimulus to revive the economy - as investors further cut their long Japanese equities and short yen positions.
Since Japan began to slow down in the early 1990s, Tokyo has used fiscal and monetary stimuli to revive the economy.
This area of investigation, which lay relatively dormant through the first half of the 20th century, was revived by the stimulus of the Soviet and American space programs.
