Now Mr Hain's remarks suggest there may be political limits to covert increases in income tax through fiscal drag.
To his credit Dudley warns that the fiscal drag that is planned is too great to do much about creating sufficient growth.
Germans are being told to believe in themselves and the things they stand for, rather than fretting over fiscal drag and social-security payments.
This means that some people have become higher rate taxpayers even if their wages only rose in line with inflation, an effect known as fiscal drag.
Economic data continue to signal a pickup in activity, with any fiscal drag from higher taxes than a year ago offset by momentum in the housing market.
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If fiscal cliff talks drag on, it could support gold and pressure stocks.
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Yet there is some prospect for some modest reversal of the drag that fiscal policy has placed on European economies.
An increase in the pace of diversification away from a weak dollar, in light of the recent downgrade and political impasse on fiscal policies, could be a drag on the economy.
This will be a continuing drag on the economy and on the fiscal condition of both state and federal governments.
The ratings agency is counting on 1.5% (of GDP) drag, but without a deal the fiscal tightening jumps to 5% and will be cause for review.
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While the market place presently perceives there will be a last-minute agreement among U.S. lawmakers to avoid the fiscal cliff, the overall situation has been a drag on many markets, including the raw commodities and stock markets.
While the market place presently perceives there will be a last-minute agreement among U.S. lawmakers to avoid the fiscal cliff, the overall situation has been a bearish drag on many markets, including the raw commodities and stock markets.
While the market place presently perceives odds are higher than not that there will be a last-minute agreement among U.S. lawmakers to avoid the fiscal cliff, the overall situation has been a bearish drag on many markets, including the raw commodities and stock markets.
While the market place presently perceives odds are higher than not that there will be a last-minute agreement among U.S. lawmakers to avoid the fiscal cliff, the overall situation continues to be a bearish drag on many markets, including the raw commodities and stock markets.
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Many economists would also like to see Japan commit itself to a whopping fiscal stimulus in the hope that a faster-growing economy could drag the rest of the region out of the mire.
That will be essential because the fiscal retrenchment needed to sort out the public finances will act as a persistent drag on the economy.
The problems of fiscal deficits generally and Euro zone difficulties in particular are likely to act as a drag on business prospects for companies in the period ahead, especially if the growth markets are affected.
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And if Greece falters, it could drag other struggling euro-area members like Ireland down too, even if their fiscal efforts have been braver.
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