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.
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Even some teachers suffer from anxiety about math.
I teach people how to teach math, and I've been working in this field for 30 years. Across those decades, I've met many people who suffer from varying degrees of math trauma – a form of debilitating mental shutdown when it comes to doing mathematics.
She met mere mortals with and without the Vatican's approval.
- For centuries, the Virgin Mary has appeared to the faithful, requesting devotion and promising comfort.
- These maps show the geography of Marian apparitions – the handful approved by the Vatican, and many others.
- Historically, Europe is where most apparitions have been reported, but the U.S. is pretty fertile ground too.
The legacy of Felix Dzerzhinsky, who led Soviet secret police in the "Red Terror," still confounds Russia.
- Felix Dzerzhinsky led the Cheka, Soviet Union's first secret police.
- The Cheka was infamous for executing thousands during the Red Terror of 1918.
- The Cheka later became the KGB, the spy organization where Russia's President Putin served for years.
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