That is the total of the average annual accrued liabilities of just the two largest entitlement programs, plus the annual cash deficit.
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The government takes the cash and uses it to cover its deficit spending.
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Will they blame the Westminster government, which gives Holyrood its cash and which would argue that cutting the deficit is urgent?
When the government spends in deficit during recessions, it is not borrowing cash to buy something it could not otherwise afford.
In the Keynesian model, the money government borrows to finance the additional deficit spending magically appears in the form of cash in exchange for government bonds.
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Cyprus needs cash to bail out its banks and patch a government budget deficit.
In contrast, the portion accruing to corporate profits was the biggest since 1950, showing companies are hoarding cash as concern grows that a European country will default on its debt and that deficit-reduction gridlock in Washington will continue, Bloomberg reported on Friday.
In the immediate future the government's problem is that it cannot afford to inject public cash into projects designed to stimulate growth if it is to keep a squeeze on the budget deficit.
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Because for there to be enough money for the deficit nations to borrow cheaply, there must be an AAA rating and a 30% cash-to-loan deposit, as I understand it.
What is clear is that the pace of reform in Greece is behind the curve and the reduction of the deficit is proving hard to enforce as so much tax revenue vanishes because transactions are not booked through a cash register or special prices are established for cash based i.e. no trail transactions.
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