If you're in the danger zone, try to limit deductions that aren't allowed in AMT--for example, unreimbursed employee business expenses. (Ask for a bigger expense account instead of a raise.) And pick your muni bond funds carefully: Certain muni interest is taxed in the AMT.

FORBES: How to adjust your investing, loan and AMT strategies.

Under their single European monetary policy, euro-zone countries have already agreed to limit their budget deficits and to respect broad guidelines in making economic policy.

ECONOMIST: Europe's convention

The extra cuts are needed to deal with what forecasters say would otherwise be a 2013 budget deficit of 4.5% of GDP, way over the 3% limit enshrined in the euro zone's new fiscal pact.

ECONOMIST: The Netherlands and the euro

It needs to make savings as early as next year if it is to carry out its promised tax cuts of euro3 billion without breaking the deficit limit decreed by the euro zone's stability and growth pact.

ECONOMIST: Austria's government

All 16 members of the euro zone now breach the 3% deficit threshold, and 12 also violate the 60% debt limit.

ECONOMIST: Charlemagne