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    856-507-8882 585 NORTH DELSEA DRIVE, VINELAND, NJ 08360
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    I write about banking, finance and economics.

    Politicians like to describe government as like a household. When you’ve borrowed too much, you cut your spending so you can pay off debt, don’t you? You might be able to get a better-paid job, which helps you to pay it off faster. But you still budget to reduce your debt over time. Going on a spending spree means tightening your belt later. Similarly, if government borrows too much, there must be austerity to pay it down. Stands to reason, doesn’t it?

    People understand this reasoning. It is politically popular, especially when times are hard. InMarch 2009, when the U.S. was in the deepest recession since the 1930s, John Boehner, former Speaker of the House of Representatives, said on CBS News that “it’s time for government to tighten their belts and show the American people that we ‘get it.’”

    TODAY -- Pictured: John Boehner on Friday, April 13, 2018 -- (Photo by: Nathan Congleton/NBC/NBCU Photo Bank via Getty Images)

    "Government is like a household" can even win elections. At the height of the financial crisis in 2008, David Cameron, then leader of the U.K.’s Conservative party, Loewe Leather Boots ZQ5v3iAV47
    in the (now defunct) News of the World :

    This [Labour] government has maxed out our nation’s credit card—and they want to keep on spending by getting another. We believe we need to get a grip, be responsible and help families now in a way that doesn’t cost us our future.

    He became the U.K.’s Prime Minister in May 2010.

    Keynesian economists such as Paul Krugman argue that instead of trying to reduce public deficits in a recession, government should increase spending, helping businesses to grow and providing employment. Government debt will rise, of course, but the government can run fiscal surpluses to pay it down when growth returns. Austerity is for the good times, not the bad times.

    But this message has not been heard. In the name of "living within our means," "balancing the books" and "paying down the debt," governments on both sides of the Atlantic have pursued austerity policies ever since the Great Recession.The terrible story of Greece shows us that harsh austerity is the wrong medicine for a poorly-performing, highly indebted economy. But Greece is merely the worst example. Many Western countries have suffered deep and lasting damage, both from the Great Recession itself and from premature attempts to reduce public deficits.

    There is a growing body of literature showing that austerity policies can be unnecessary even when a government is highly indebted. Recently, two researchers at the IMF Dsquared2 Designer Shoes and Neon Leather Womens Low Top Sneakers Pc0nl
    the effective limit on public debt in major economies is far higher than had previously been thought, and could even be infinite. And now, Roger Farmer of Warwick University and Pawel Zabczyk of the Bank of England have debunked the "household fallacy." In a recent paper , they say that government doesn’t need to “tighten its belt” to pay down debt, even in the good times:

    Military.com

    Military.com had the chance to speak with Mike Abrams, the man behind FourBlock , about how veterans can make a successful transition. Abrams himself served eight years of active duty in the Marine Corps and is currently part of the Marine Corps Reserves. FourBlock is an organization that offers accredited courses to veterans about transitioning to the civilian world. So far they've helped at least 85 veterans successfully find internships and full time employment. If you have any questions about FourBlock or are interested in learning more, contact Mike Abrams at mabrams@fourblock.org .

    Tell us about your military experience.

    Transitioning to the Civilian Life? Download the Military.com Transition App Today!

    I spent 8 years in the Marine Corps – I joined after the attacks on 9/11. I went in as a 2nd Lieutenant and deployed to Afghanistan with 3rd Battalion, 3rd Marines, and I was the artillery forward observer. During my last couple years I worked with a college recruiter and went around to all the campuses in New York City and recruited young men and women to join Officer's Candidate School. I'm currently in the Marine Corps reserves and I'm with Mike Battery, 3rd Battalion, 14th Marines out of Chattanooga Tennessee.

    What was it like transitioning out of active duty?

    I struggled a little bit. I struggled to figure out what I wanted to do next, where I fit in, and what my new mission was going to be. My first job was at a media company. It was sort of a good fit, but at the end of the day I was very passionate about helping veterans and decided to pursue my not-for-profit, FourBlock, full time.

    What would you attribute to your success?

    It was networking with other veterans. That is what ultimately really helped me. As I was trying to figure out what I wanted to do, one of the biggest things veterans struggle with, and this is something that I struggled with, is the reality check that you're going to have to take a couple steps back professionally before you can begin to move forward again. What I mean by that is, we have so much responsibility and authority at such a young age in the military, and a lot of veterans, including me, thought we were going to transition out of the military into a civilian career with the same responsibility, authority, and compensation.

    It is very difficult to transition into something that's equal to what you had in the military. It's this realization that maybe not everything that you did in the military is valued by civilian employers. As long as you figure out what you're passionate about and what you want to do, it's easier to take those couple steps back and work hard and quickly move back up to where you were.

    NYTimes.com no longer supports Internet Explorer 9 or earlier. Please upgrade your browser. Maryam Nassir Zadeh SSENSE Exclusive White Padri Sandals dizIat4C
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    The New York Times

    Argentina |

    Supported by

    If Ronaldo Can’t Beat Uruguay, the Least He Can Do Is Pay Taxes

    The Portuguese soccer star’s financial maneuvers can tell us a lot about the world’s failure to adapt to globalization.

    By GABRIEL ZUCMAN

    Messi Exits the World Cup. Hours Later, So Does Ronaldo.

    Messi, and Argentina, fell victim to Kylian Mbappé, who scored twice for France. And Edinson Cavani scored twice in Uruguay’s victory over Ronaldo and Portugal.

    By CHRISTOPHER CLAREY

    France and Argentina Meet in an Elite Battle for World Cup Survival

    The French will aim to control Lionel Messi, the Argentine star who has never scored in the knockout stage.

    By CHRISTOPHER CLAREY

    On Soccer

    Amid Argentina’s Drama, Lionel Messi’s Brilliance Emerges

    It was not neat, and he did not do it alone. But Messi produced what he needed to in a labored Argentine victory that sent the team out of the group stage.

    By RORY SMITH

    The Tech Takeover Has Hit the World Cup, So Who’s in Control?

    Video review (VAR) is probably for the best, but there’s something not only familiar but also perversely self-satisfying about hollering over a bad call in real time.

    By TALMON JOSEPH SMITH

    On Soccer

    Made in Argentina, and Now Coaching Everywhere at the World Cup

    Five Argentines are prowling the sidelines in Russia. None of them are exactly riding high at the moment, but their overall presence is a statement in itself.

    By RORY SMITH

    How Modric Scores a Screamer, Leaving Argentina on the Brink

    Luka Modric curled in a long-range shot, sealing Croatia’s place in the knockout round.

    By BEDEL SAGET, KENAN DAVIS, ANTONIO de LUCA, JOE WARD and EDEN WEINGART

    Croatia Buries Argentina’s World Cup Hopes in a Deep Hole

    Luka Modric led a balanced attack for Croatia, who have qualified for the next round. Argentina will need some help.

    By TARIQ PANJA

    World Cup: Iceland Ties Argentina, but You Can Call It a Victory

    Tiny Iceland’s tenacious defense frustrated mighty Argentina and earned a 1-1 draw that will be celebrated much more vigorously in Reykjavik than in Buenos Aires.

    By RORY SMITH

    Bid to Legalize Abortion in Argentina Clears First Hurdle in Congress

    Argentina’s lower house narrowly approved a measure that would allow women to terminate pregnancies during the first 14 weeks.

    By DANIEL POLITI and ERNESTO LONDOÑO

    Argentina Reaches $50 Billion Financing Deal With I.M.F.

    The agreement requires cuts in the country’s fiscal deficit that were sharper than initially planned as well as decreases in the inflation rate.

    By DANIEL POLITI

    Argentina-Israel Soccer Game Canceled Over Playing in Jerusalem

    Argentina blamed unspecified threats to its star player, Lionel Messi, and others, while Israel seethed over what it considered capitulation to Palestinian activists.

    By DANIEL POLITI

    Emerging Markets Are Worrying Investors, Again

    Argentina and now Turkey have been forced to raise interest rates to defend their currencies from growing pressure on emerging markets.

    By MATT PHILLIPS and LANDON THOMAS Jr

    Misogyny, Femicide and an Unexpected Abortion Debate

    Activists fueled by anger over the murders of hundreds of Argentine women have become a political force that could legalize abortion on Pope Francis’ home turf.

    By JORDANA TIMERMAN

    Argentina Turns to I.M.F., Long Its Villain, as Its Peso Plummets

    President Mauricio Macri said his country was negotiating a line of credit with the International Monetary Fund, which many Argentines blame for a 2001 economic collapse.

    By DANIEL POLITI

    Argentina Raises Key Rate to 40%, Bringing Economic Uncertainty

    The move seeks to stabilize the country’s currency, the peso, after a strong depreciation in recent days raised questions about the prospects for President Mauricio Macri’s ambitious agenda.

    By DANIEL POLITI and MATT PHILLIPS

    Queremos escuchar las opiniones de las mujeres sobre el aborto

    Hablar del aborto no es fácil, pero es un tema que afecta a las mujeres en todos los rincones del planeta.

    By THE NEW YORK TIMES

    U.S. Allies Brace for Trade War as Tariff Negotiations Stall

    Days before Trump tariffs on steel and aluminum take effect, negotiators for producing countries see themselves at the mercy of the president’s whims.

    By JACK EWING and ANA SWANSON

    We Want to Hear From Women Around the World About Abortion

    Abortion is often hard to talk about, but it affects women in every corner of the world.

    By THE NEW YORK TIMES

    Legal Abortion in Argentina? A Long Shot Is Suddenly Within Reach

    If an abortion rights bill passes in Argentina amid a surge of feminist activism, it would be a milestone in a region where strict abortion laws are the norm.

    By DANIEL POLITI

    Skip to Navigation

    Celebrations After Chile Beats Argentina

    Support Rally for Argentina's Kirchner

    Obama on Relationship With Argentina

    If Ronaldo Can’t Beat Uruguay, the Least He Can Do Is Pay Taxes

    The Portuguese soccer star’s financial maneuvers can tell us a lot about the world’s failure to adapt to globalization.

    By GABRIEL ZUCMAN

    Messi Exits the World Cup. Hours Later, So Does Ronaldo.

    Messi, and Argentina, fell victim to Kylian Mbappé, who scored twice for France. And Edinson Cavani scored twice in Uruguay’s victory over Ronaldo and Portugal.

    By CHRISTOPHER CLAREY

    France and Argentina Meet in an Elite Battle for World Cup Survival

    The French will aim to control Lionel Messi, the Argentine star who has never scored in the knockout stage.

    By CHRISTOPHER CLAREY

    On Soccer

    Amid Argentina’s Drama, Lionel Messi’s Brilliance Emerges

    It was not neat, and he did not do it alone. But Messi produced what he needed to in a labored Argentine victory that sent the team out of the group stage.

    By RORY SMITH

    The Tech Takeover Has Hit the World Cup, So Who’s in Control?

    Video review (VAR) is probably for the best, but there’s something not only familiar but also perversely self-satisfying about hollering over a bad call in real time.

    By TALMON JOSEPH SMITH

    On Soccer

    Made in Argentina, and Now Coaching Everywhere at the World Cup

    Five Argentines are prowling the sidelines in Russia. None of them are exactly riding high at the moment, but their overall presence is a statement in itself.

    By RORY SMITH

    How Modric Scores a Screamer, Leaving Argentina on the Brink

    Luka Modric curled in a long-range shot, sealing Croatia’s place in the knockout round.

    By BEDEL SAGET, KENAN DAVIS, ANTONIO de LUCA, JOE WARD and EDEN WEINGART

    Croatia Buries Argentina’s World Cup Hopes in a Deep Hole

    Luka Modric led a balanced attack for Croatia, who have qualified for the next round. Argentina will need some help.

    By TARIQ PANJA

    World Cup: Iceland Ties Argentina, but You Can Call It a Victory

    Tiny Iceland’s tenacious defense frustrated mighty Argentina and earned a 1-1 draw that will be celebrated much more vigorously in Reykjavik than in Buenos Aires.

    By RORY SMITH

    Bid to Legalize Abortion in Argentina Clears First Hurdle in Congress

    Argentina’s lower house narrowly approved a measure that would allow women to terminate pregnancies during the first 14 weeks.

    By DANIEL POLITI and ERNESTO LONDOÑO

    Argentina Reaches $50 Billion Financing Deal With I.M.F.

    The agreement requires cuts in the country’s fiscal deficit that were sharper than initially planned as well as decreases in the inflation rate.

    By DANIEL POLITI

    Argentina-Israel Soccer Game Canceled Over Playing in Jerusalem

    Argentina blamed unspecified threats to its star player, Lionel Messi, and others, while Israel seethed over what it considered capitulation to Palestinian activists.

    By DANIEL POLITI

    Emerging Markets Are Worrying Investors, Again

    Argentina and now Turkey have been forced to raise interest rates to defend their currencies from growing pressure on emerging markets.

    By MATT PHILLIPS and LANDON THOMAS Jr

    Misogyny, Femicide and an Unexpected Abortion Debate

    Activists fueled by anger over the murders of hundreds of Argentine women have become a political force that could legalize abortion on Pope Francis’ home turf.

    By JORDANA TIMERMAN

    Argentina Turns to I.M.F., Long Its Villain, as Its Peso Plummets

    President Mauricio Macri said his country was negotiating a line of credit with the International Monetary Fund, which many Argentines blame for a 2001 economic collapse.

    By DANIEL POLITI

    Argentina Raises Key Rate to 40%, Bringing Economic Uncertainty

    The move seeks to stabilize the country’s currency, the peso, after a strong depreciation in recent days raised questions about the prospects for President Mauricio Macri’s ambitious agenda.

    By DANIEL POLITI and MATT PHILLIPS

    Queremos escuchar las opiniones de las mujeres sobre el aborto

    Hablar del aborto no es fácil, pero es un tema que afecta a las mujeres en todos los rincones del planeta.

    By THE NEW YORK TIMES

    U.S. Allies Brace for Trade War as Tariff Negotiations Stall

    Days before Trump tariffs on steel and aluminum take effect, negotiators for producing countries see themselves at the mercy of the president’s whims.

    By JACK EWING and ANA SWANSON

    We Want to Hear From Women Around the World About Abortion

    Abortion is often hard to talk about, but it affects women in every corner of the world.

    By THE NEW YORK TIMES

    Legal Abortion in Argentina? A Long Shot Is Suddenly Within Reach

    If an abortion rights bill passes in Argentina amid a surge of feminist activism, it would be a milestone in a region where strict abortion laws are the norm.

    By DANIEL POLITI

    Skip to Navigation

    Go to Home Page »

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