Albany faces even larger deficits in the next two fiscal years, after the expiration of a temporary tax increase on the wealthy in the coming year and the end of
federal stimulus financing in the following year.
Not exact matches
Finance Minister Jim Flaherty, who ran a projected $ 56 - billion
federal deficit last year, recently softened his stance on
stimulus along with his deadline to get back to balance, but even little trims hurt.
While this sounds like monetary madness, it should be remembered that Ben Bernanke, former Chair of the US
Federal Reserve, urged such action on the Japanese government a decade ago to deal with that country's deflationary crisis, and referenced Milton Friedman's argument that a central bank
financed stimulus via a «helicopter drop» of money could have saved the United States from the Great Depression.
In the wake of intense opposition from the town and Orient residents, the authority eventually dropped that project, which was to be
financed largely with
federal stimulus funds.
Five local projects - including a steel processing plant and a boutique hotel - have been chosen to share a $ 28 million pot of tax - free
financing made available through the
federal government's economic
stimulus program.
Construction bonding authority — a technical, and often obscure, source of capital funding for school districts — has emerged as a hot ticket for those looking to
finance school facilities work under the
federal government's economic -
stimulus program.
The Race to the Top initiative, initially
financed through the 2009
federal economic -
stimulus legislation, gave Democrats the political cover to push for priorities such as expansion of charter schools, alternative teacher training, and teacher performance evaluations tied in part to students» academic gains — issues that previously had been associated most closely with Republicans.
That plan was aided by
financing from the
federal stimulus program, although construction has not begun.
Despite the fact that
federal stimulus money is almost spent and securing project
financing continues to be difficult, most analysts predict that the number of construction starts will only continue to grow as more time elapses between now and the previous economic crisis and mortgage meltdown.
In the economic
stimulus bill, Congress last spring appropriated more than $ 4 billion in new
financing for child care and education efforts, including Head Start, the
federal program that serves about 900,000 preschoolers.
A massive dose of fiscal
stimulus measures, including both deficit -
financed tax cuts and
federal government spending increases, has just begun to hit the economy.»