What brought Argentina down was the combination of its fixed exchange rate, which made its currency uncompetitive, with persistent fiscal deficits.

ECONOMIST: Latin America

Jamaica has run fiscal deficits in 44 of its 50 years of independence.

ECONOMIST: Jamaica at 50

Ghana's 12-place decline in the index is blamed mostly on its worsening macroeconomic situation, characterised by large fiscal deficits, rising public debt and high inflation.

ECONOMIST: Outstripped

We need to remember that provisions related to the Fiscal Cliff were enacted so the federal government could start getting control of its deficits which have been running at more than a trillion dollars a year (around 40% of the annual budget).

FORBES: Fiscal Cliff Politics

High interest rates--along with wide fiscal and current account deficits and a weak global economy--have squeezed economic expansion to its lowest rates in a decade.

WSJ: India Central Bank Cuts Lending Rate

High interest rates along with wide fiscal and current-account deficits and a weak global economy have squeezed economic expansion to its lowest rates in a decade.

WSJ: India Central Bank Cuts Lending Rate