You make the implicit assumption that the low return on Japanese corporate investment can be raised without cutting its level.
David Riley reiterated that Fitch was unhappy that the chancellor said in the Autumn Statement that the Treasury would miss its 2015-16 target to start cutting the level of net debt.
Last year House Republicans proposed cutting spending to the level of the shrinking petrol-tax receipts.
Pupils will be expected to do more subjects at that level before cutting back in the second year.
For palladium, non-commercials reduced their net-long to 26, 587 contracts and arrived at that level by cutting 915 gross longs and adding 148 gross shorts.
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But even that level of cost cutting has been slower than the loss of income.
The FDA has granted VivaGel fast track status, which has had little impact so far, but will really kick in at the phase 3 trial level, usually cutting the time it takes to get a product registered and on the market in half.
Americans are living longer and now demand a higher level of care that includes cutting-edge drugs and the latest technologies.
Innovative associations are dealing with the costs of delivering a cutting-edge thought leadership campaign through higher-level sponsorships.
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Cutting waste in health care can shift down the level of spending.
There's budget-cutting talk at the local, state and federal level.
The ECB will then try to stop Europe from spiraling into even lower prices by cutting euro-area interest rates from their current level of 1%, or by buying corporate bonds to help increase the money supply.
The goal for many amputees is no longer to reach a "natural" level of ability but to exceed it, using whatever cutting-edge technology is available.
Income last year fell to the lowest level since 2009 and banks have been shedding staff and cutting bonuses, which are traditionally paid before the lunar new year that begins this week.
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No one could have foreseen Iceland's financial collapse, counters Mr Freer, and cutting services in sheltered housing would permit the council to provide an equal level of support to all older people.
Goldman Sachs is cutting, too, and promoted a smaller number to its coveted Managing Director level this month than it has in a few years.
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So the scientists turned to their laptops, and using cutting-edge computational mathematics, modelled the concrete on the screen at a molecular level.
On Monday, the former defence secretary, Liam Fox, a Conservative, called on the government to freeze the level of public spending for five years and spend the money saved on cutting taxes and the deficit.
The president also sought to assure the elderly that cutting costs and finding savings in the Medicare program for senior citizens won't diminish the level of service currently provided.
It is not, after all, particularly cutting edge to say that the Scottish government is in favour of more jobs, higher productivity and higher level skills.
Phase II includes cutting costs by removing an entire layer of operations management, which will see the bank shedding thousands of lower-level jobs.
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