1.   He was a fiscal conservative even during the Reagan deficit years.

2.   The deficit this year was met from the legacy fund and the appeal fund.

3.   Timex management had told him of substantial losses in recent years and of the possibility of another massive deficit this year.

4.   As long as the federal budget runs a deficit every year, Congress has no alternative but to raise the ceiling when necessary to meet financial obligations.

5.   Before that, Italy ran deficits every year since the second world war.

6.   Both expect too-high deficits this year as well.

7.   But there is no agreement yet whether to limit the size of any further stimulus package so that the government does not go into deficit this year.

8.   Finance Minister Pablo Concha is aiming for a balanced budget, compared with a fiscal deficit this year.

9.   France is covering up part of its deficit this year by transferring billions of francs to the government from France Telecom, which is being privatized.