He has stressed that the Treasury — under his leadership — did loosen the grip, setting out new fiscal rules
for a balanced budget by the middle of the next decade.
After all, crude oil and commodities prices are still so low that plunging resource revenues forced Ottawa to defer its target
date for balancing the budget.
If the global climate again turns stormy, Budget 2013's three - pronged action plan will seem inconsequential, and Flaherty's
pledge for a balanced budget by 2015 will look vulnerable.
For state and local governments, the statutory
requirements for balanced budgets meant that fiscal policies turned restrictive relatively quickly once budget surpluses and rainy day funds were exhausted, and this was only temporarily mitigated by federal transfers to the states as part of the initial fiscal stimulus program.
«We remain on
track for a balanced budget in 2015,» Rob Nicol, the prime minister's chief spokesman, said in a statement following the release of the parliamentary budget office's report.
While deploring the influence of Albany's traditional labor - dominated special interests, he helped organize his own: a coalition of real estate magnates, Wall Street executives and antitax groups that raised and spent millions of dollars to help Mr. Cuomo
push for a balanced budget without the tax increase on the wealthy sought by many liberals and labor unions.
The drive for an amendment to limit the Supreme Court's legislative apportionment decisions came within one State of the required number, and a
proposal for a balanced budget amendment has been but two States short of the requisite number for some time.
Conservatives with the Republican Study Committee who want to cut spending more quickly introduced their own spending plan that called
for balancing the budget within five years.
While the outlook for federal R&D has improved somewhat from the gloomy forecasts of two years ago, all signs still point downward as long as both the Administration and Congress continue to
press for a balanced budget through cuts in discretionary spending.
In an attempt to keep that promise and meet his legal
mandate for a balanced budget, he slashed deeply into spending for social - service programs, enraging his liberal supporters, and ultimately supported a tax increase.
Start by taking skeptics seriously: Tea Partiers are frustrated when liberals describe
support for balanced budgets, limited government, Second Amendment rights, and the repeal of health care reform as racist, violent, xenophobic, callous, and uncaring.
For all the years of GOP lawmakers
calling for balanced budgets, at least on paper, the House budget would reach balance, while the Senate budget would not.
Signing the compact in theory ratifies rules governing the convention, as well a pre-drafted amendment
for a balanced budget and debt ceiling.