Sales of the new system have not been included in the financial forecasts announced today for the fiscal term ending March 2012.
Noting that short-term fiscal balance can be restored fairly easily, while long-term fiscal restructuring will require strong political will and will probably have to wait until after the 2013 elections.
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Compounding the fiscal cliff threatening renewed recession in the short term is the even bigger issue of the long term fiscal and sovereign debt crisis, threatening long term stagnation and decline.
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The key focus of this consulting firm: to provide consulting and educational services to nonprofit organizations, and the funders who support them, focused on building fiscal management capacity and long term fiscal health.
Instead, America needs to get its macro-medicine right, in particular by committing itself to medium-term fiscal and monetary stability without excessive short-term tightening.
As for inflexibility, though true, it is not much of a problem if the short-term fiscal adjustment also makes sense on long-term structural grounds.
To get the rest of the way there will require a bipartisan process, which is why we are calling for a bipartisan fiscal commission tasked not only with addressing our long-term fiscal imbalance, but also producing plans that will balance the budget, excluding interest payments on the debt, by 2015.
The OECD has said that such cuts "may provide short-term fiscal relief, but will damage the foundations of long-term growth".
The payroll-tax cut has only been extended for two months, ensuring that the rest of the year will be punctuated with fiscal skirmishes, even as nothing is done to deal with America's medium-term fiscal mess, or to smooth the huge tax hikes and spending cuts that loom at the end of 2012 under current law.
President Barack Obama would now encourage the bipartisan fiscal committee and members of Congress to "put our common commitment to a stronger recovery and a sounder long-term fiscal path above our political and ideological differences", said Mr Carney.
That is a popular way to balance the budget in the short term and guarantee a fiscal crisis in the long term.
Japan needs stimulus in the short term and credible plans for fiscal retrenchment in the long term.
And unless we do that, we will continue to face a very substantial long-term fiscal gap.
The growing cost of health care is the number-one, long-term fiscal challenge we face.
Dr. ORSZAG: Look, we as a nation face a very serious medium and long-term fiscal problem.
They are popular with the public and would help us address our long-term fiscal challenges.
We have our role to play in managing a pathway towards medium-term fiscal sustainability.
His plan succeeds in addressing our long-term fiscal problem, which is a significant accomplishment.
However, the state's auditor did credit the budget as continuing to move toward long-term fiscal balance.
Next, the new tax deal has made America's long-term fiscal problems even more intractable.
America's long-term fiscal challenge is huge, by some measures bigger than that of the euro zone.
If Europeans are serious about putting their budgets in order, they will need to undertake long-term fiscal reforms.
To preserve our long-term fiscal health, we must also address the growing costs in Medicare and Social Security.
Investors are also probably right to forgive America's leaders for failing to resolve the country's long-term fiscal problems.
At the time, this seemed a mildly interesting problem at best, one whose long-term fiscal impact was unpredictable.
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By itself, a suitable increase in the taxation of top earners will not solve our unsustainable long-term fiscal trajectory.
Now, to preserve our long-term fiscal health, we must also address the growing cost in Medicare and Social Security.
In this era of ballooning debt the long-term fiscal health of our country has become a kitchen table discussion.
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The deal passed by the Senate is grossly inadequate to addressing either our short- or long-term fiscal challenges.
Sizeable enough, but that sum palls in comparison with America's long-term fiscal problem.
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