September 23, 2013 |
CONGRESS AND the White House are gearing up for their latest epic battle — over funding the federal government for another 10 weeks . Meanwhile, their fiscal policies have put the United States on a long-term path of increasing debt, rising interest rates, needlessly crimped growth and fewer and fewer dollars for many of the programs Americans care most about. That's not the picture the White House generally paints. President Obama and his team talk as if they've gotten the deficit more or less under control ,...
September 14, 2011 |
BERLIN — The debt crisis in Europe showed signs of easing Wednesday, as heads of state said that Greece will keep using the euro currency, helping soothe the fears of a financial collapse on the continent and driving markets up. French President Nicolas Sarkozy and German Chancellor Angela Merkel said they are "confident that Greece's future is in the euro zone," after a teleconference between the two leaders and Greek Prime Minister George Papandreou,...
October 13, 2011 |
LONDON — Slovakia on Thursday approved a beefed-up bailout fund to combat Europe's debt crisis , much to the relief of European leaders who needed the tiny nation's sign-off before putting their grand rescue plan into effect. The enhanced, $590 billion fund aimed at shoring up ailing debtor nations and the banks that own their debt was agreed to in July, but its creation was contingent on approval from all parliaments of the 17 nations that share the euro. The Slovak...
January 27, 2012 |
PARIS — Despite months of urgent summits, repeated rescue plans and merciless budget cuts, European governments remain on the edge of a financial abyss, struggling to meet mountainous debts accumulated over four decades of living beyond their means. The most immediate danger lies in Greece, where the government is effectively bankrupt, with debts amounting to an estimated 160 percent of the country's gross domestic product. Negotiations with creditor banks, which have been asked to take a 50 percent loss, are proceeding...
March 15, 2011 |
Don't call me a deficit hawk. I'm a deficit panda. If you care about preserving government programs, especially for the most vulnerable, you should be, too. The taxonomy of the budget debate is unintentionally but dangerously misleading. The term deficit hawk conjures images of a sharp-taloned raptor swooping down on government spending, preying on the defenseless elderly or seizing food from hungry children. Hence my pitch for a cuddlier image. I would argue that it is possible to be a deficit panda: to...
January 27, 2012 |
In a handful of countries applying to join the European Union, the European debt crisis has raised an urgent question: Why would we want to be part of that mess? The answer offered in places such as Iceland could have profound effects on the health and shape of the E.U. To understand just how pervasive the debate has become in this small island nation , it's best to keep walking past the stone Parliament building downtown and forgo the prime minister's office up the hill.