Exact(14)
Osborne says he has made substantial progress in cutting the level of borrowing.
"When he campaigned for office, he promised not to borrow, but what he's doing is increasing the level of borrowing.
Regulators need to be able to put more trust in banks' risk models and rating agencies and supplement them with simple rules about the level of borrowing.
Sherman believed the state-by-state system of regulation was disorderly and unable to facilitate the level of borrowing a modern nation might require.
The level of borrowing by businesses and governments in China, Thailand, Indonesia and Brazil has soared in the past decade.
They thought that austerity was inevitable because the deficit and the level of borrowing were too high.
Similar(44)
At GDP growth rates in the 8% to 10% range, Malaysia's economy could support this level of borrowing.
It said the debts of both the city and state had more than doubled since 1990, and recommended that the state reduce its level of borrowing.
An alternative within the proposed framework is to operate under the concept of a maximum level of borrowing.
An additional rule to improve incentives is that above a given level of borrowing the contribution rate can be increased temporarily to bring down the "debt" and/or that at least part of the negative balance would be repaid at the time of retirement by reducing the pension (as long as the pension does not fall below a given threshold).
But this level of borrowing by a national government is not bad in itself; it depends on who you borrow from and your ability to pay the interest.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com