With a projected $1.8 trillion deficit for 2009, several trillions more in deficits projected over the next decade, and with both Medicare and Social Security entitlement spending about to ratchet up several notches over the next 15 years as Baby Boomers become eligible for both, …

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. . ."The truth is that the U.S. is a relatively low-tax country no matter how you slice the data. The following tables illustrate this fact by comparing the U.S. to other members of the Organization for Economic Cooperation and Development, a Paris-based research organization.

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Their bold, three-part strategy established fiscal discipline; invested in education, health care, science and technology; and opened foreign markets so that American workers have a fair chance to compete abroad.

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Though the picture so far is of the Republicans as the party of austerity and the Democrats as the party of stimulus, there's a surprise when it comes to changes in the federal deficit: Republicans are more liberal with the red ink than Dems.

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Nigeria's economic team is trying to convince the international business community that fiscal restraint did not leave with ex-Finance Minister Ngozi Okonjo-Iweala.

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