And we included four assurances from the beginning in our state fiscal stabilization fund all the way through the Race to the Top dollars and the innovation and school improvement grant dollars that we're starting to put in place going forward.
He demonstrated his willingness to accept spending cuts that were not ideal from his perspective, but were necessary in order to achieve the agreement that he reached with Republicans to fully fund fiscal year 2011.
They sought the answer (which they published in an August 2012 paper on "fiscal consolidations" for the National Bureau of Economic Research) by analyzing an International Monetary Fund history of all the fiscal plans that 17 OECD governments enacted between 1978 and 2009, including the U.S., Canada and Japan.
On its definition of deficit-cutting, the fund finds that fiscal contraction tends to reduce GDP and increase unemployment.
However, the fund learnt that lesson within a month, urging the Koreans to ignore the fund's own fiscal conditions.
As Jonathan Ostry, one of the paper's authors, points out, the fund now appreciates that fiscal retrenchment does little to restore confidence unless there is an underlying fiscal problem.
They stem from a slump brought on by Fernando de la Rua's government--part of a deadly cocktail mixed by the International Monetary Fund (IMF), which forced Argentina to hike taxes and impose fiscal austerity as a condition for getting loans from the fund (see my column of Sept. 18, 2000).
He withdrew his threat this week after provincial governors from his Peronist party once again promised to support the repeal of the law, and the fiscal and monetary measures requested by the Fund.
Wadhwani thinks the best thing that the central bank could do to stimulate the economy would be to print money to fund a one-off fiscal stimulus, sending a voucher to every household in the country, which they could spend however they wished.
But the biggest task awaiting lawmakers is to pass the remaining budget bills that fund federal operations before the new fiscal year begins October 1.
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The International Monetary Fund recently computed a similar sized fiscal gap.
For a start, it was the prime minister, Ryutaro Hashimoto, who was responsible for pushing through the fiscal reform law which makes it difficult to fund tax cuts.
But it is still permitted and if done, it will be led by the European Central Bank, allowing the ECB to use the 500bn euro fund in a way that fudges fiscal and monetary intervention.
The market is "paying close attention to how much a weakening yen might have helped companies like Toyota as the earnings reporting season gets under way for the just-concluded fiscal period, " said Naoki Fujiwara, fund manager at Shinkin Asset Management.
But this was then suspended because the Fund disapproved of the government's fiscal and electricity policies.
The fund has thoughts on the substance of fiscal policy, as well as its timing.
If the German parliament approves the second Greek rescue package, if the euro zone's bail-out fund is beefed up, if tougher fiscal monitoring is endorsed by the European Parliament, maybe the line can hold.
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The bill would fund the war for the rest of the fiscal year, while also setting a timetable for the withdrawal of U.S. forces from the country.
This plan is merely a starting point as the House and Senate continue negotiations with the White House over how to fund the government for the rest of the fiscal year.
House Republicans have said they will vote on a bill next week to fund the government through the end of the fiscal year, on 30 September, but keep in place some automatic cuts taking effect on Friday.
In a move toward fiscal unity, EU leaders agreed to authorize a permanent rescue fund and impose losses on creditors in some cases.
Along with more investment in infrastructure, the OECD said Beijing should give migrants to cities better access to schooling and that fiscal reforms were needed to ensure lower levels of government can fund more social services.
Well, when we get back to fiscal responsibility, we'll start paying back the Social Security Trust Fund.
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Mr Mussa argues that the Fund failed to press Argentina to address the shortcomings in its fiscal policy.
Countercyclical fiscal policy was mentioned in favorable terms, more resources for the International Monetary Fund were discussed and an extensive work plan for regulators was specified in some detail.
The Fund will not open its wallet before Ecuador's Congress approves a fiscal-reform bill to make sure that the oil money is not squandered.
Under the looming threat of the fiscal cliff, lawyers worked overtime during the holiday season to set up trusts and fund them with gifts that made maximum use of the tax-free amount.
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But with a fiscal crisis to match our economic crisis, we also must be prudent about how we fund it.
The Barroso proposal aims to quickly create a common bailout fund backed by levies on the eurozone banks, skirting the need for direct fiscal transfers.
But in publishing all this new data, the Fund is clearly attempting to force a debate in Europe over the pace of fiscal tightening and its likely impact on growth.
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