1.   And in Japan, Italy, Germany and France large regular government deficits were leading to a steadily growing volume of outstanding government securities.

2.   So, contrary to those who ascribe great importance to Keynesian policies, the boom was in no sense based on government deficits.

3.   And the spending cuts needed to cut the government deficit will mean laying off state workers.

4.   A surge in loans from abroad and direct foreign investment helped Brazil overcome a government deficit and post a first-half surplus in current account payments.

5.   A sustained upturn would have reduced the government deficit and increased public support for reform while supporting the ruble.

6.   A wider-than-expected British government deficit for the third month of the fiscal year also hurt gilts.

7.   Both parties are leery of the symbolism of returning to an era of government deficits, but the overall economic effects and influence on interest rates are uncertain.

8.   Bundesbank council member Franz-Christoph Zeitler said subdued growth in money supply and cuts in government deficits made further reductions in German interest rates possible.

9.   But a string of reports showing a sluggish economy and signs of serious efforts to end government deficits set that prediction on its ear.

10.   During his first year in office, President Fernando de la Rua cut public spending and raised taxes in an effort to shave government deficits and reduce interest rates.