The fiscal deficit continues to present a daunting challenge in Japan.

That is how the turnaround of the economy took place by reducing the fiscal deficit and converting the external balance of payments from deficit to surplus.

BERKELEY The United States is beset by four deficits a fiscal deficit, a jobs deficit, a deficit in public investment, and an opportunity deficit.

None of this would be enough to save Greece, where the fiscal deficit is 7.5 of GDP, or Portugal, where it is 5 of GDP.

Fiscal deficits must be cut to reduce debt levels.

Unfortunately, the US fiscal deficit is projected to remain high for many years.

So, yes, more immediate growth does require slower reduction in fiscal deficits.

We can apply this reasoning to the United States unsustainable fiscal deficit.

In contrast to monetary policy, the US president does have a powerful and direct impact on future fiscal deficits. If the presidential promise to reduce the fiscal deficit was really a commitment to cut spending and raise taxes, we could see today s dangerous deficit trajectory be reversed.

Willingness to hold the dollar may be undercut by concern with America s twin fiscal and external deficits.

A large fiscal deficit increases the need for foreign funds to avoid crowding out private investment.

Reversing the upsurge in fiscal deficits is also critical to the global economy s health.

In fact, there is a strong risk that this legislation would ultimately add to the fiscal deficit.

Large US budget deficits during Ronald Reagan s presidency generated the famous twin fiscal and trade deficits of the 1980 s.

At the same time, the fiscal deficit is more than 7 of GDP.

To be sure, executives and entrepreneurs like to shake their heads over the current US fiscal deficit.

We first of all tackled the fiscal deficit issue by reducing our expenditures, which were mainly on the establishment we reduced establishment costs.

If the presidential promise to reduce the fiscal deficit was really a commitment to cut spending and raise taxes, we could see today s dangerous deficit trajectory be reversed.

Monetizing the fiscal deficits would then become the path of least resistance running the printing presses is much easier than politically painful deficit reduction.

For example, Egypt s fiscal deficit will exceed 11 of GDP this year.

A tighter Fiscal Compact would practically eliminate the risk of default.

The long term consequences of the resulting surge in fiscal deficits are serious.

The fiscal deficit in the United States this year is likely to exceed 10 of GDP.

But certain fiscal decisions, and most critically the level of the fiscal deficit, can be delegated to an independent board.

Like Argentina, Greece has a fixed exchange rate, a long history of fiscal deficits, and an even longer history of sovereign defaults.

The budget proposals put forward by presidential candidate Mitt Romney and his running mate, Paul Ryan, could reduce the fiscal deficit, but would exacerbate the other three.

The anticipated increase in the fiscal deficit is striking the central plan discussed by Bush s Council of Economic Advisers would according to the Council s own estimates increase America s fiscal deficit by 2 trillion over the next decade.

Most major countries fiscal deficits nowadays reflect the recent collapse of tax revenues that followed the growth downturn, as well as very costly financial sector bailouts.

Second, the effects of austerity were exacerbated by the choice to pursue nominal, rather than structural, fiscal deficit targets.

Yes, the soaring deficits may contribute somewhat to international financial instability.

And that would push a 7 of GDP fiscal deficit to 11 .

Even so, the danger of fiscal deficits and inflation persist in several countries.

A spike in defaults could destabilize the entire financial system and trigger an economic downturn.

And negotiations are under way to cut spending more and raise taxes in order to reduce further the fiscal deficits projected for 2011 and later years.

We must make a distinction between fiscal deficits related to current expenditures and investment spending.

Still troubled financial systems and huge fiscal deficits are keeping the West s deficit countries (especially the US) from expanding domestic demand.

For the elderly old age pension In cases of disability disability pension, training or additional training and reassignment and the right to financial compensation on the basis of the right to training while waiting for a new assignment In cases of death of the insured, the beneficiary of personal pension receives a family pension.

If they take their fiscal deficits (and a potential monetization of these deficits) seriously and raise taxes, reduce spending, and mop up excess liquidity, they could undermine the already weak recovery.

Given Europe s fiscal deficits and the economic impact of reducing them, that is a huge potential prize.

So, like Paul Krugman, Martin Wolf, and others, I would expand fiscal deficits, not try to shrink them.

Today, markets seem to think that large fiscal deficits are the greatest threat to government solvency.

To be sure, fiscal deficits and emergency measures in advanced economies and some major developing countries have cushioned the sharp decline, substituting in part for missing consumers.

The fiscal deficit was equivalent to 3 of GDP in 2009, which generated 3 GDP growth, while the deficit in 2008 was literally zero.

So, over time, fiscal accounts worsen automatically, creating a vicious circle monetized fiscal deficits lead to inflation and a widening gap in the parallel exchange rate market which worsens the fiscal deficit.

In contrast to monetary policy, the US president does have a powerful and direct impact on future fiscal deficits.