It led to massive borrowing and heavy investment mostly in domestic and foreign stocks and securities.

The more serious concern is the effect of massive borrowing on productivity.

The result was massive deficit spending, massive borrowing and a nasty bout of inflation.

The very narrow tax base meant continued heavy reliance on massive borrowings and indirect taxes.

Rich continued to question the mayor for focusing on massive borrowing without means to pay the debt back.

You forget about the unnatural effects of the massive borrowing to stave off financial collapse.

I will fight against any plan that relies on massive borrowing and increases the debt.

Many economists regard the massive borrowing of the 1980's as ominous.

The government tried to avoid inflation via massive overseas borrowing and a variety of local regulations.

The group's debt mountain is largely the result of massive borrowings taken on when it bought Coalite in 1989.