And in order -- if you just wanted to cut the deficit to balance the budget, only on non-discretionary -- or on discretionary non-defense spending -- so if you wanted to exempt out all the entitlements, exempt defense, you'd have to cut all those other things by 60 percent -- 60 percent.
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In fact, I have a vision that when the G20 meets later in the month in Seoul, that the world needs a new balance between deficit countries and surplus countries, and that balance has to be restored by paying more attention to the development -- of the development potential, including infrastructure development and energy infrastructure agricultural infrastructure in the poorer countries of the world.
WHITEHOUSE: President Obama and Prime Minister Singh Press Availability | The White House
It is an absolute fact that there is no way to achieve the kind of balance in a broad deficit reduction package, a balance that requires significant revenues, without rates going up on top earners.
We should not allow our elected representatives to add a leadership deficit to our balance sheet.
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He shared a realistic view on how to balance deficit management actions while encouraging growth.
But the fact is that in order to achieve corporate tax reform or individual tax reform or balance deficit and debt reduction, we need to work with Congress.
They make much of the finding that capital is draining from America to the third world, and of the fact that recently America has run a deficit in its balance of payments.
From 2003 to 2007, the primary balance deficit was reduced from JPY 28 trillion to JPY 6 trillion, a reduction of JPY 22 trillion, equivalent to increasing the consumption tax by 9 percentage points.
Mr Elcomb said the cathedral had tried to balance its deficit using funds from reserves, which were now running low.
The Republicans want to increase defense spending and take in no revenue, which makes it impossible to balance the deficit under the terms that Bowles-Simpson laid out -- unless you essentially eliminate discretionary spending.
WHITEHOUSE: President Obama Speaks at the Associated Press Luncheon
Reflecting his analysis of the U.S. balance of payments deficit, Levy owns a large position in the euro.
China will likely post in the second quarter its first balance of payments deficit since 1992.
This would leave a trade deficit with Japan but potentially balance American trade overall.
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China's overall trade balance was in deficit in the first three months of this year, thanks to strong import growth.
The venture represents a gamble for the ballet company, which is operating at a deficit with a plan to balance its budget by 2015.
An effort to balance the budget deficit caused a further contraction in 1938, and then World War II came along, and the rest is history.
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Unlike the 50 states which comprise our union, our federal government can freely engage in deficit spending without a constraint to balance the budget.
So I want to see what comes out of this, but I expect to support some very vigorous actions to eliminate the deficit and get us back to balance.
WHITEHOUSE: Press Briefing with President Obama and President Clinton
He put forward a 2012 budget proposal that reduced the deficit by over a trillion dollars and included within it the kind of balance that he thinks is essential to deal with our longer-term deficit and debt issues.
The government has sought to keep the balance-of-payments deficit within reasonable bounds by slowing the economy.
Sri Lanka approached the IMF regarding a loan in March, when its balance of payments fell into deficit for the first time in four years.
It allowed countries lucky enough to have a boomerang currency to disregard the internal consequences that would have resulted from a balance-of-payments deficit under the gold standard.
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There were no major economic announcements out of the euro area today with the exception of a trade balance reading that showed a deficit of 3 billion euro.
Our balance-of-trade deficit has to grow, paring 1998s economic momentum.
This involves a massive hike in the tax take to balance the books and stabilise the deficit.
In early October the Treasury released a pre-election economic and fiscal update indicating that after 14 years in surplus the budget balance was set to slip into deficit.
There is the possibility for something short of the biggest deal possible but still something significant that would provide some deficit reduction -- some significant deficit reduction, but would also still require balance, would still require give on the part of Republicans.
In February 2010, Greece admitted that through assistance from Goldman Sachs, it used off-balance-sheet transactions to hide its deficit and national debt.
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