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It now looks like businesses are gearing up to meet new demands. Since the crisis, investment has been unusually low, allowing firms to absorb the excess capacity brought on by recession. Once again, capacity is tight, and orders are piling up. Firms now need to up investment in a big way.
The U.S. debt was $1-trillion in 1982, and at $12.1-trillion just four years ago. It's now at $16.7-trillion and needing to be raised on Oct. 17th, or the country will be unable to pay its bills and will default on debt payments. This sends a clear message to a debt-ridden populace: that their own government doesn't even take debt that seriously.
B.C.'s budgets are chalk full of household terms like "Notional Allocations to Contingencies." What they are not is an exercise in clarity or brevity. The B.C. government's 2012 budget came in at a mind-numbing 64,000 words — or one-third the length of the Old Testament.
Of course, the U.S. is not a paragon of virtue and has gotten itself into a big fiscal mess, due to panic over 9/11, the 2008 debacle and unjustifiable tax cuts and wars paid for with a national credit card. But this week, after two years of haggling, illustrated that a system of checks and balances eventually imposes discipline by forcing the public and politicians to engage fully in financial decisions.
OTTAWA - Canada's finance minister says the U.S. economy still faces significant risks despite a last-minute deal to keep income taxes from rising on the middle class and the poor.While Jim Flaherty i...
WASHINGTON - Weary lawmakers in the House pushed at last toward a final congressional vote on legislation to avoid a national "fiscal cliff" of middle class tax increases and spending cuts, a New Year...
WASHINGTON - Hours past a self-imposed deadline for action, the Senate passed legislation early New Year's Day to neutralize a fiscal cliff combination of across-the-board tax increases and spending c...
The Artificial Intelligence Laboratory at the University of Zurich announced that the world's first "humanoid" robot will be "born" in March. It's an incredible achievement, but overshadowed by the fact that "Roboys" are not yet running our governments, programmed for fiscal responsibility in order to fix our finances.
WASHINGTON - Senate leaders rushed to assemble a last-ditch agreement to avoid middle-class tax increases and possibly delay steep spending cuts in an urgent attempt to find common ground after weeks...
In a few days the "fiscal cliff" deadline will arrive and potentially bring massive automatic spending cuts and tax increases to the U.S. Even if Congress and the President agree to avoid the cliff, the next crisis awaits.
It has long been said that when the U.S. sneezes, Canada catches a cold. So why have these debt-related ailments in the U.S. not afflicted the Canadian government? The answer is that Canada has been practicing what the U.S. always preached. That is why we Canucks are not jumping off cliffs or smashing into ceilings.
TORONTO - The Toronto stock market may be in for improved performance following a lacklustre 2012 if the U.S. and Chinese economies revive next year and boost prices for commodities and resource stock...
America's day of fiscal reckoning has been postponed because of the rise of the Tea Party anti-state movement. Fiscal "cliff" is the wrong metaphor. What's about to happen is not the end of the world, as falling off a cliff would imply. A better metaphor is America is about to head into a "fiscal cold shower."
It's probably a safe bet that Ebenezer Scrooge, before his spiritual transformation, would have balked at recent proposals in the U.S. to tax the wealthy, even to avoid a so-called fiscal cliff. The...
OTTAWA - America going over the fiscal cliff in January will likely be more of a bumpy toboggan slide for Canadians.The prospects that U.S. lawmakers won't be able to find the goodwill to arrive at a...