• $3.99

Publisher Description

By 2011, many nations had experienced an escalation in deficits and debt. It appeared that some might not be able to service their debt, and might have to default. The United States a budget crisis in which “left-wing liberal” Democrats wanted to raise taxes on the wealthy while “right-winged conservative” Republicans wanted to cut expenditures. A philosophical divide existed over the role of personal responsibility versus the role of government. In the European Union, the “PIIGS” – Portugal, Italy, Ireland, Greece and Spain – seemed on the verge of default, and other members of the euro zone created new loan programs to assist them in their budget crisis. However, these loans included a requirement to move towards balanced budgets. Citizens in the borrowing nations objected to the severe tax increases and expenditure cuts, while citizens of the successful nations asked why they should have to pay. It was not clear who would bear the burden of reducing the deficits and debt.

GENRE
Business & Personal Finance
RELEASED
2011
August 16
LANGUAGE
EN
English
LENGTH
3
Pages
PUBLISHER
Richard Ivey School of Business Foundation
SELLER
Ivey Business School Foundation
SIZE
714.3
KB

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