Washed It!

Leaders of the world’s biggest economies acknowledged there is no one-size-fits-all solution to the world’s economic troubles, agreeing in Toronto to halve the budget deficits of most industrialized nations by 2013, while giving each country the leeway to cut spending at its own speed.

The compromise was the result of divisions between the Obama administration, which emphasizes the need to continue stimulating growth and job creation, and some of its principal allies, which have grown alarmed over soaring debt levels.