This document summarizes a slideshow comparing the Greek and US budget crises. It finds that both countries had government deficits over 12% of GDP in 2009. While the US debt is currently lower than Greece's, its finances have deteriorated more rapidly. The document analyzes spending, taxes, interest payments, and the need for fiscal reforms. It concludes that the US needs to reform taxes and spending before the next recession or risk unsustainable debt growth.
Eurozone Crisis : A case study on GreeceAniket Pant
Our group was required to do a presentation for Financial Management on the Euro Zone Crisis. We took the example of Greece and did the study. Here are our slides.
A small presentation on Greece crisis. Some information about Greece crisis. You can understand the reasons behind the crisis and can understand the reasons to resolve it.
A very balanced presentation covering each and every aspect of eurozone economic crisis. A thorough analysis from the start of European Union formation and the further development of the problem of crisis. Also, effect on Indian Economy is pondered upon to make it good piece of word.
I hope it will fulfil everyone's need.
by Jason Breslow and Evan Wexler, Frontline, PBS
For many middle-class families, the American Dream can feel as though it's slipping away. For others, it can seem lost for good.
Consider Terry and Tony Neumann and Claude and Jackie Stanley -- the two Milwaukee couples featured in an episode of FRONTLINE, Two American Families.
In 1992, both Tony and Claude had recently lost their manufacturing jobs. For the next 20 years, our cameras followed them and their families as they struggled to avoid poverty. When they could find work, it was often for longer hours, less pay and no benefits. Bills piled up, tensions rose and relationships became strained.
Of course, their story is far from unique. Over the last several decades, the middle class has struggled to keep pace with smaller paychecks, mounting debt and shrinking opportunities for steady work. The following eight charts offer a brief snapshot.
http://www.pbs.org/wgbh/pages/frontline/business-economy-financial-crisis/two-american-families/the-state-of-americas-middle-class-in-eight-charts/
What Can We Learn about the Ryan Medicare Plan from German Experience?Ed Dolan
The Ryan plan for Medicare proposes a system of competing private health insurers with the cost premiums divide between the government and beneficiaries. Germany has operated such a system for many years.
Eurozone Crisis : A case study on GreeceAniket Pant
Our group was required to do a presentation for Financial Management on the Euro Zone Crisis. We took the example of Greece and did the study. Here are our slides.
A small presentation on Greece crisis. Some information about Greece crisis. You can understand the reasons behind the crisis and can understand the reasons to resolve it.
A very balanced presentation covering each and every aspect of eurozone economic crisis. A thorough analysis from the start of European Union formation and the further development of the problem of crisis. Also, effect on Indian Economy is pondered upon to make it good piece of word.
I hope it will fulfil everyone's need.
by Jason Breslow and Evan Wexler, Frontline, PBS
For many middle-class families, the American Dream can feel as though it's slipping away. For others, it can seem lost for good.
Consider Terry and Tony Neumann and Claude and Jackie Stanley -- the two Milwaukee couples featured in an episode of FRONTLINE, Two American Families.
In 1992, both Tony and Claude had recently lost their manufacturing jobs. For the next 20 years, our cameras followed them and their families as they struggled to avoid poverty. When they could find work, it was often for longer hours, less pay and no benefits. Bills piled up, tensions rose and relationships became strained.
Of course, their story is far from unique. Over the last several decades, the middle class has struggled to keep pace with smaller paychecks, mounting debt and shrinking opportunities for steady work. The following eight charts offer a brief snapshot.
http://www.pbs.org/wgbh/pages/frontline/business-economy-financial-crisis/two-american-families/the-state-of-americas-middle-class-in-eight-charts/
What Can We Learn about the Ryan Medicare Plan from German Experience?Ed Dolan
The Ryan plan for Medicare proposes a system of competing private health insurers with the cost premiums divide between the government and beneficiaries. Germany has operated such a system for many years.
US Inflation Data: Seasonally Adjusted CPI Shows Zero Change in AprilEd Dolan
US inflation, as measured by the seasonally adjusted consumer price index for all items, fell to zero in April. Other measures showed inflation at low but positive rate.
Tax Reform as a Path to Growth-Friendly Fiscal ConsolidationEd Dolan
This slideshow explains how tax reform (lowering tax rates while broadening the tax base) can stimulate US economic growth while at the same time reducing the federal deficit
The Global Economy No. 9 - December 20, 2011Swedbank
The Global Economy No. 9 - December 20, 2011: Although 2011 was the year of the debt crisis, challenges still remain in 2012 – not least for the euro zone
Please provide a summary of the current economic crises existing in .pdfmampbellzumberge517
Please provide a summary of the current economic crises existing in Greece.
Include:
A Background of causal factors for the problems
B. Programs initiated by Greek Government to correct the problems
C. Reaction of Greek citizens
D. What effect Greece\'s problems are having on the rest of the EU?
Solution
Greece Debt Crisis:
The crisis in Greece started decades ago when when government increased the size of country\'s
payroll. As a result every one in five Greek person ended up having a government job.
At one point of time, politicians stopped offering new job opportunities to citizens, rather started
raising pay for the people already working for the government. This cupled with a poor tax
collection regime, had greece scrambling to keep money flowing.
As a result, greece started borrowing from the foriegn countries, which was easier for it being a
Europian union member. But at the same time, being a EU member, it was to require to adhere to
strict financial restrictions which did not allow it to have a national budget deficit of more than
3% of the GDP.
Greece\'s debt increased but no one care because it continued to show a deficit of 3.4% for a long
time. The final blow stuct with a formation of new government in the country which discovered
that the budget deficit of 3.4% was a lie , but the debt has soared beyond 15% of the GDP. The
relevation led the Greece\'s lenders to apply stricter rules of payback. the Greece\'s debt
skyrocketed post it and it became impossible got it repay its loans without taking furthur loads.
IMF and EU came up to its support with the ailout program od 110 billion euro. The money was
given with strict condtions of Greece takng austerity measues of lowering wages and proper tax
collection. The second bailout was of 130 billion dollars, but experts say that greece will not be
able to recover out of its debt before 2020.
Greece crisis might have an spillover effect on other Greece countries, which might punge the
Euro down compared to other countries. Greece\'s exit from EU was was also at one point of
time the point of discussion..
The Case Against the Mortgage Interest DeductionEd Dolan
This set of slides gives the case against the mortgage interest deduction. It argues that the deduction most benefits wealthy taxpayers, raises home prices and encourages speculation, and increases the budget deficit while doing little or nothing to increase the rate of home ownership.
Rarely has there been more uncertainty regarding the course of the public finances over the next five years. In this note we aim to answer some of the big questions for the economy in light of the 2021 budget.
Rarely has there been more uncertainty regarding the course of the public finances over the next five years. In this note we aim to answer some of the big questions for the economy in light of the 2021 budget.
How Liberals and Conservatives Can Talk About Climate changeEd Dolan
Many liberals are afraid to talk to their conservative friends and neighbors about climate change. They think it is a waste of time and that all conservatives are climate deniers. Their conservative friends have similar feelings about liberals. Here is why liberals and conservatives should talk to each other about climate and how a constructive dialog is possible.
The Economics of a Price-Smoothing Oil TaxEd Dolan
An oil importing country can protect itself from the adverse effects of price volatility and encourage energy conservation by implementing a tax that varies inversely with the global oil price, thereby smoothing the domestic price.
Government agencies reported US GDP growth at a 3.6 percent in Q3. The economy added 203,000 jobs in November and unemployment fell to 7 percent, a new low for the recovery
US Adds 204,000 Jobs in October Despite ShutdownEd Dolan
The US added 204,000 new jobs in October. The unemployment rate edged up by less than a tenth of a percent. The data were muddled by the government shutdown
The Power of a Glamping Go-To-Market Accelerator Plan.pptxRezStream
Unlock the secrets to success with our comprehensive 8-Step Glamping Accelerator Go-To-Market Plan! Watch our FREE webinar, where you'll receive expert guidance and invaluable insights on every aspect of launching and growing your glamping business.
BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. Get information in this PDF and simplyfy your visa process.
Hidden Gems of Europe - DISCOVERING THE CONTINENT'S BEST-KEPT SECRETSKamil Uğraş TÜRKOĞLU
Europe, continent rich in history, culture, and natural beauty, is often synonymous with famous cities like Paris, Rome, and London. These iconic destinations attract millions of tourists every year, captivating them with their renowned landmarks, vibrant culture, and bustling urban life. However, beyond these well-trodden paths lie countless hidden gems waiting to be discovered. These lesser-known destinations offer unique experiences, authentic encounters, and breathtaking landscapes that often surpass the allure of their famous counterparts.
In "Hidden Gems of Europe," we embark on a journey to uncover these secret spots, exploring the heart and soul of Europe through its quaint villages, charming towns, and secluded natural wonders. This book aims to inspire travelers to look beyond the obvious and venture into the lesser-explored corners of the continent, where true adventure and discovery await.
How To Talk To a Live Person at American Airlinesflyn goo
This page by FlynGoo can become your ultimate guide to connecting with a live person at American Airlines. Have you ever felt lost in the automated maze of customer service menus? FlynGoo is here to rescue you from endless phone trees and automated responses. With just a click or a call to a specific number, we ensure you get the human touch you deserve. No more frustration, no more waiting on hold - we simplify the process, making your travel experience smoother and more enjoyable.
Assessing the Influence of Transportation on the Tourism Industry in Nigeriagsochially
This research dissertation investigates the complex interplay between transportation and the tourism industry in Nigeria, aiming to unravel critical insights that contribute to the enhancement of the overall tourist experience. The study employs a multi-faceted approach, literature review establishes a robust theoretical framework, incorporating The Service Quality and Satisfaction Theory to guide the research questions and hypotheses.
The methodology involves the distribution of a structured questionnaire, ensuring a representative sample and facilitating a comprehensive analysis of the gathered data.
Key findings include the nuanced perceptions of transportation infrastructure adequacy, safety and security concerns, financial influences on travel decisions, and the cultural and ecological impacts of transportation choices. These findings culminate in a comprehensive set of recommendations for policymakers and practitioners in the Nigerian tourism industry. The findings contribute to the existing literature by providing actionable insights for policymakers, stakeholders, and researchers in the Nigerian tourism sector.
The recommendations encompass gender-sensitive planning, infrastructure enhancements, safety measures, and strategic interventions to address financial constraints, ensuring a holistic and sustainable development of the tourism industry in Nigeria.
Author: Imafidon Osademwingie Martins
Wayanad-The-Touristry-Heaven to the tour.pptxcosmo-soil
Wayanad, nestled in Kerala's Western Ghats, is a lush paradise renowned for its scenic landscapes, rich biodiversity, and cultural heritage. From trekking Chembra Peak to exploring ancient Edakkal Caves, Wayanad offers thrilling adventures and serene experiences. Its vibrant economy, driven by agriculture and tourism, highlights a harmonious blend of nature, tradition, and modernity.
During the coldest months, Italy transforms into a winter wonderland, providing visitors with a very unique experience. From the Settimana Bianca ski event to the lively Carnevale celebrations, Italy's winter festivities provide something for everyone. Enjoy hot cocoa, eat hearty comfort foods, and buy during winter deals. Explore the country's rich cultural past by participating in Settimana Bianca, and Carnevale, sipping hot chocolate, shopping during winter deals, and indulging in winter comfort foods. Visit our website https://timeforsicily.com/ for more information.
Antarctica- Icy wilderness of extremes and wondertahreemzahra82
In this presentation, we delve into the captivating realm of Antarctica, Earth's southernmost continent. This icy wilderness stands as a testament to extremes, with record-breaking cold temperatures and vast expanses of pristine ice. Antarctica's landscape is dominated by towering glaciers, colossal icebergs, and expansive ice shelves. Yet, amidst this frozen expanse, a rich tapestry of unique wildlife thrives, including penguins, seals, and seabirds, all finely attuned to survive in this harsh environment. Beyond its natural wonders, Antarctica also serves as a vital hub for scientific exploration, providing invaluable insights into climate change and the Earth's history
The greek budget crisis some comparisons with the us
1. Free Slides from
Ed Dolan’s Econ Blog
http://dolanecon.blogspot.com/
The Greek Budget Crisis:
Some Comparisons with
the United States
Post prepared March 7, 2010
Note: This slideshow has been updated as of
April 4, 2013. Follow this link for the updated
version:
http://www.slideshare.net/dolaneconslide/why
Terms of Use: You are free to use these slides as a resource in your economics classes together with whatever
-hasnt-the-us-become-another-greece
textbook you are using. If you like the slides, you may also want to take a look at my textbook, Introduction to
Economics, from BVT Publishers. Check Ed Dolan’s Econ Blog regularly for more slides like these.
2. Greek Budget Crisis Threatens Euro Area
With a government deficit over
12 percent of GDP and total
government debt of more than
100% of GDP, Greece has the
worst fiscal policy performance
in the European Union
Greece is a member of the euro
currency area, so it cannot
devalue its currency or resort to
inflation to escape the crisis
A default by the Greek
government would threaten
financial stability in all euro area
countries
Source: PDClipart.org
Posting P100307 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/
3. What can the US learn from the Greek crisis?
The United States also faces
unusually high government
deficits and debt
How do the two countries
compare in terms of key fiscal
policy indicators?
Does the Greek budget crisis
hold any lessons for the United
States?
Source: PDClipart.org
Posting P100307 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/
4. Deterioration of Government Finances: The Deficit
In 2009, both countries had
government budget deficits of near
than 12 percent of GDP
The United States had a
government surplus as recently as
2000
Its finances have deteriorated even
more rapidly than those of Greece
Posting P100307 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/
5. Deterioration of Government Finances: The Debt
Greece entered the crisis with a
much larger government debt than
the United States
During the boom years of the mid-
2000s, Greece began to reduce its
debt burden, but progress was
reversed as the economy slowed
In the US, debt continued to grow
faster than GDP even during the
most prosperous years of the boom
Posting P100307 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/
6. Analysis: Cyclical Component of Deficit
The cyclical balance measures the
difference between the actual
deficit and the deficit that the
country would have at full
employment
A negative balance (a cyclical
deficit) shows that the actual deficit
is greater than it would be at full
employment
In both Greece and the US, about
two percentage points of the total
deficit, as of 2009, was attributable
to the recession
Posting P100307 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/
7. Analysis: Contribution of Spending to the Deficit
During the early 2000s,
government expenditures trended
downward in Greece, but upward
in the United States
In both countries, fiscal stimulus
spending added significantly to the
deficit in 2008 and 2009
On balance, rising expenditures
contributed a bit more to the
growing deficit in Greece than in
the US
Posting P100307 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/
8. Analysis: Contribution of Taxes to the Deficit
The tendency of tax and nontax
revenues to rise during a period of
prosperity is an important automatic
stabilizer that helps control the
business cycle and keep fiscal policy
under control
In both Greece and the US, this
automatic stabilizer was weak.
Tax receipts were lower during the
boom years of the mid-2000s than
they were at the previous business
cycle peak in 2000.
On balance, falling tax receipts
contributed a bit more to growth of
the deficit in the US than in Greece.
Posting P100307 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/
9. Interest Payments and Pressure for Reform
Interest payments are a much larger
contributor to the budget deficit in
Greece than in the US
In part, Greek total interest cost is
higher because debt is larger
In part, it is higher because Greece
does not enjoy the confidence of
lenders.
As of early 2010, Greece was paying
interest rates that were more than
twice as high as those paid by the
US government
Posting P100307 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/
10. Greek Government Makes Painful Budget Reforms
As fear of a default rose in early
2010, Greece came under
enormous pressure to tighten fiscal
policy
A package of expenditure cuts and
tax increases is projected to
sharply cut the Greek budget
deficit in 2010 and 2011
No similar changes are in store for
US fiscal policy. Without tax or
spending changes, the US deficit
is expected to shrink only slightly
Posting P100307 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/
11. Lessons from the Greek Crisis (1)
When lenders begin to doubt a country’s
solvency, interest rates and debt service
costs soar out of control
At that point, a government has only Fiscal reforms in Greece . . .
three choices: Salary cuts for
Default on its debt government workers
Monetize the deficit at the risk of Pension cuts
runaway inflation Tax increases
Undergo painful fiscal reforms The results . . .
As a member of the euro area, the Strikes
default and inflation options were not on Violent street
the table. Greece was pressured by its demonstrations
neighbors to choose reform, however
painful
Posting P100307 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/
12. Lessons from the Greek Crisis (2)
The middle of a recession is the worst time to make fiscal reforms. Better to do it
during a period of prosperity
The US has time, but not much, to make reforms before the next recession comes
Without big changes in tax and spending policy, the debt is certain to grow out of
control, and it will be too late for relatively painless solutions
US debt projections
by the Congressional
Budget Office
With business as usual
With reforms that have been
promised, but not yet delivered
Posting P100307 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/