Economy

Concessions provide more time to reduce deficit in exchange for deeper cuts.

At June FOMC meeting, a few policy makers saw need for Fed to do more.

At June FOMC meeting, a few policy makers saw need for Fed to do more.

Government faces setbacks in attaining its deficit goals.

Government faces setbacks in attaining its deficit goals.

Fourth austerity package in seven months raises sales tax to 21% from 18%.

Fourth austerity package in seven months raises sales tax to 21% from 18%.

Overtime, cheaper gas and lower debt service obligations should all support spending.