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Cutting public-sector wages and welfare payments is better than cutting government investment.Putting in place reforms that slow down the rise in pension and health-care spending ought to be a particular priority, since the net present value of governments' promises to the elderly dwarf today's debts.
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Both presidents overestimated the value of government planning.
He has offered up a rebuttal to criticism about the value of government intervention.
"We can help one another," Mr. Cuomo said, paying tribute to the value of government.
Comparing net debt across countries is harder than comparing gross debt, because estimating the value of government assets is hard.
Estimates of the potential value of government data vary widely, but the prize could be considerable and the UK is already leading the way.
The interest payments on the face value of government securities (i.e. types of bonds) this year is $13.9bn – so about $1.1bn a month.
Given the philosophical differences about the value of government regulations, some experts were skeptical that Congress and the Bush administration would agree on more than cosmetic changes.
Even without outright default on their obligations, the value of government bonds sold to finance these deficits could plunge, costing investors a lot.
Minimum wages do not create new "entitlement" programs or otherwise enjoin the country's sterile debates about the value of government.
Most of the guilty have been defrauding budgets and marking up the value of government contracts.Money-politics now seems to be endemic.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com