Joseph Stiglitz's Deficit Reduction Plan
Analytically, the task of deﬁcit reduction is simple: cutting expenditures and raising \r\ntaxes, says Nobel Laureate Joseph Stiglitz in his plan to reduce long-term budget deficits.
In the next few weeks, the United States will be focused on deﬁcit reduction. Analytically, the task of deﬁcit reduction is simple: cu!ing expenditures and raising taxes. Politically, the task of deﬁcit reduction is enormously difficult, for each cut in expenditure or increase in taxes hurts someone, and typically, some powerful group. ... What matters is not the deﬁcit itself or the short-run national debt, but long-run levels of the national debt. The country should be looking at its national balance sheet. Debt reﬂects only the liability side. In assessing the economic strength of a ﬁrm, no one would look just at its liabilities; they would also look at its assets. The single-minded focus on deﬁcits and short-run debt is thus fundamentally misguided.
Entrepreneur and author Andrew Horn shares his rules for becoming an assured conversationalist.
- To avoid basing action on external validation, you need to find your "authentic voice" and use it.
- Finding your voice requires asking the right questions of yourself.
- There are 3-5 questions that you would generally want to ask people you are talking to.
Swiss researchers identify new dangers of modern cocaine.
- Cocaine cut with anti-worming adulterant levamisole may cause brain damage.
- Levamisole can thin out the prefrontal cortex and affect cognitive skills.
- Government health programs should encourage testing of cocaine for purity.
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