Sentences with phrase «budget deficit hole»

Not exact matches

The White House has yet to spell out how much of a hole the tax cuts could create in the federal budget, maintaining that the resulting economic growth would reduce — if not eliminate — the risk of a soaring deficit.

Also, Spitzer didn't run on a message of fiscal restraint the way Cuomo did, and he didn't face the same massive budget hole to fill upon taking office, although there was — as there usually is — a structural deficit worth between $ 4.3 billion and $ 5 billion.

The budget deficit for the current fiscal year had grown to $ 350 million dollars, and the projected gap for the new fiscal year would be a $ 3.5 billion dollar hole, if spending were to take place as planned.

«Every opportunity is being given for military personnel to retrain either for alternative roles in the armed forces or in civilian life, but the simple fact is we have to tackle the massive deficit we inherited from Labour and the huge black hole in the defence budget,» he explained.

«If we didn't do that, first of all, the day after we pass this budget we'd have a $ 15 billion deficit next year, we'd be right back in the hole because these outrageous, unsustainable rates of increase must stop.»

But Cuomo indicated the budget will be a challenging one nonetheless, given the $ 4.6 billion deficit and, when spending is capped at 2 percent, a $ 1.7 billion hole to climb out of before the budget is approved.

«As I mentioned before, we have a budget deficit of over $ 20 million next year and that is of great concern to me and I think a great concern to taxpayers here in the city and certainly to our employees and to get ourselves out of that hole we need to do a few things.

Joining Bloomberg in Albany today will be NYC Council Speaker Christine Quinn and NYC Comptroller John Liu, who according to the WSJ, will testify that Cuomo's budget will increase the city's deficit 58 percent, creating an «immediate» $ 1.4 billion hole on top of an existing shortfall of $ 2.4 billion.

Budget analysts say the county ended 2011 with a $ 60.5 - million deficit and, with no action, could face an additional $ 497 million hole this year and next.

That would seem a near impossible hole to fill given the state's Division of Budget projection of a $ 3.5 billion deficit, which the governor hopes to bridge through spending constraints.

«We had a $ 10 billion deficit — a hole in our budget,» Tkaczyk said.

The measure would have tore a $ 2.3 billion hole in the state budget, said the governor, leading to a $ 6.9 billion deficit over four years when paired with other cuts.

$ 15 million, 2012, budget and finance committee, CSEA, deficit, gallery, ilan schoenberger, in the hole, increased, july 24, layoffs, legislators, legislature, meeting, mid year report, more, multi year plan, p. t. thomas, politics, president, rockland county chapter of the csea, rockland county legislature, sara gilbert, taxes, thomas

The report goes on to explain that the new budget uses borrowing, one - time revenues, and fund transfers to close budget deficits and cover operating expenses and reports that, «By relying on these measures, rather than recurring revenues to close the state's budget gap... state policymakers have opened up a larger revenue hole in future budget years.»

On the other side, the government has nothing to say about those three key issues, but does chirp proudly about the budget deficit not being as deep a hole this year as it could have been.

Republicans are getting hit hard for increasing taxes on the Middle Class, reducing taxes for billionaires like Trump, being unable to show how any of this will support jobs growth as claimed, and basically pledging to blow another massive hole in the budget leading to further and worsening deficits.