State pensions, which already absorb 12% of GDP, may well eat up 20% by 2040 if nothing is done.The government talks of reform, but does not seem too keen to act.
Instead, natural climate cycles led to more of the trapped heat being stored in the oceans (which already absorbed most the heat), some of which El Niño is now releasing.
The discovery sharpens the disappointment of the partners working on the Stonehenge Project, an ambitious scheme which has already absorbed millions of pounds in planning work, intended to reunite the stone circle with the surrounding landscape, most of which is owned by the National Trust and leased to farmers.
The worst hit by far would be the Defense Department, which is already absorbing a $500 billion budget cut over 10 years agreed to in 2011 and is operating under a temporary spending agreement even as it draws down the war in Afghanistan.
This has been absorbed into the region/time dummy, which already captures local labour market slack.
Franklin K. Lane in Brooklyn, which already houses four high schools under one roof, is absorbing two schools that are normally in one building on Broad Channel.
Instead, the Aylesbury and Buckingham Railway and the Brill Tramway were absorbed by London's Metropolitan Railway (MR), which already operated the line from Aylesbury to London.
Cue Liverpool, which already employs two Brazilians, Lucas Leiva and Philippe Coutinho.
But the impact can be all too real, as write-downs reduce overall book value and increase leverage ratios, a particular concern in these debt-averse times.The effect on the share price depends on the extent to which the market has already absorbed the lost value.
In a statement the orchestra said: "Coming on top of the £1.47m real-terms public funding cuts which the orchestra has already absorbed since 2010, it means the CBSO's public funding will drop below that currently received by any other regional symphony orchestra in the country, with its Birmingham city council grant falling to levels last seen in the 1980s".
