US balances while British deficit burns

Article Abstract:

The current conflict in the US over the need to produce a balanced budget indicates that governments may now start to be expected to make more effort to balance their budget if they are to obtain reasonable borrowing terms. This trend is particularly significant at a time when the Labour party in the UK is announcing plans to bring in a 10% starting rate for income tax. This would leave a considerable deficit, and raises questions about whether the party would seek some limit on its power to borrow.

Analysis, Column

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And shall our children inherit the deficit?

Article Abstract:

There has been heated political debate surrounding the subject of the US national debt recently. Many Republicans are now beginning to express concern about the fact that the budget deficit will be a burden for the next generation, and are becoming more aware of their role as trustees for the future. Most ordinary people are in favour of giving the highest priority to reducing the deficit, but the Republican politicians have so far been giving more attention to tax cuts.

Ethical aspects

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French plan to save face over the franc

Article Abstract:

The recent strong criticism by French president Jacques Chirac of currency speculation is seen by many observers as an indication that the French franc will soon be devalued. This is necessary in order to boost economic growth against a background of high unemployment. It is possible that France will try to engineer a Europe-wide cut in interest rates, as it cannot cut rates to obtain cheaper money to below German rates.

France, Monetary policy

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