This is the suggestion that under a gold standard government budget deficits would become a thing of the past.
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President Dwight Eisenhower's response was to increase the budget for education to raise the academic standard in universities across America.
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Yet as much as Mr. Ryan was the standard-bearer for Republican budget thinking, he had worked feverishly with Democrats to find alternatives to fiscal issues in order to win broader support, complicating the image presented by his opponents.
The OECD and IMF have both warned of the need for a credible plan to bring the budget into balance, and ratings agency Standard and Poor's has said it is putting Britain's AAA credit rating on review until such a plan emerges.
According to Stephen Green, an economist at Standard Chartered, it has a budget surplus of 2% of GDP, if measured in the same way as in rich economies, and public-sector debt is a mere 16% of GDP.
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And the budget deficit has led the US ratings agency, Standard and Poors, to put the currency on review for a possible downgrade.
The Conservatives said the tax rise would now expire on 30 June, after which cider would be subject to the standard 2% increase announced in the Budget for beers and spirits.
More important, the GOP has to embrace the growth standard as essential to restoring balance to the federal budget.
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The Evening Standard has apologised after it published details of the Budget via Twitter before George Osborne had delivered his statement.
This comes after Evening Standard accidentally published details of the key points of the Budget on Twitter before Mr Osborne had addressed Parliament.
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Standard good practice is to spend 3% of an annual budget on training, she says.
In his response to the Budget, Mr Miliband said Mr Osborne "almost need not have bothered coming" to the Commons "because the whole Budget, including the market-sensitive fiscal forecasts, were in the Standard".
Among those are maternity care, substance abuse and mental-health services and prescription-drug coverage, which aren't standard in individual policies today, says Sarah Lueck, a senior policy analyst at the Center on Budget and Policy Priorities, a nonprofit group in Washington.
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