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budget calculations but intentionally set things up so that the broader financial marketplace believed the government had an obligation to never let the two companies default on their debt; 15 this allowed the marketplace to largely ignore measures of GSE financial strength, in particular their capital ratios. See their pressrelease.
Rocks suggested this was part of the reason that a growth in staffing levels in the health service did not seem to have translated into a corresponding increase in activity. A third example would be the impact on local governments of declining budgets. And the failure of the Trump Administration to properly respond to covid.
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