It is not yet clear how ACE will implement the cuts on the arts organisations it funds.
It judged that for now, expanding its loans to banks and securities dealers, and broadening the collateral it accepts from banks, addresses the crisis better than looser monetary policy would, though it may yet decide further rate cuts are necessary.
On that note, China has restarted about 1.1 million metric tons per year of energy-related second half of 2010 cuts this year, yet it still has around 4.4 million tons annually of idled capacity.
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Admittedly, it is not yet clear that this actually results in pay cuts (heaven forfend).
Yet, however unfair it may seem to the thrifty, rate cuts are needed to boost the overall economy.
While the plan does appear to be timely, it's not yet clear how temporary the business tax cuts will be.
Yet, even if some of these cuts were reversed, it seems doubtful that an economy that has hardly grown in two decades could be turned around anytime soon.
The hope of a more fundamental tax reform is not yet dead (though today's tax cuts will make it harder to compensate the losers in any such scheme).
The trust added it was not yet possible to say over what period of time the cuts would be made or where exactly the cuts will be.
First, the government hinted at large cuts in next year's budget (though it is yet to give details).
Yet as I understand it, Keynesian theory is indifferent between spending hikes and tax cuts as a means of stimulus.
Yet the Obama budget eliminates the recent automatic cuts to the Pentagon budget, even as it cuts Social Security and increases Medicare premiums for middle-class seniors.
Yet despite all these extra taxes, the government will find it difficult to reach its targets without spending cuts.
Yet, when the financial crisis started to take hold and the business was looking to make cuts, it was obvious who would be the first to the door.
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This will be the third year of steep budget cuts for most of these countries, yet policy makers in Brussels, Frankfurt and Berlin think it the bare minimum to maintain market confidence.
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Yet progressives would have you believe it is more reasonable to believe that Congress will stand idly by as these devastating cuts take their toll than to believe they will rescue hospitals, physicians and other providers in the identical fashion that they have spared doctors in the past.
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