Sentences with phrase «massive federal deficits»

In other words, GDP economic growth would have been negative in every year following the crisis were it not for massive federal deficits.

Today, however, those taxes have been cut, along with dividend taxes and the massive federal deficit has begun to wreak havoc on the states» budgets.

Not exact matches

While last week's budget vote cleared the way to begin the tax reform effort, 20 Republicans voted against it, citing issues with the elimination of state and local tax deductions and a massive expansion of the federal deficit.

Eliminating the state and local tax deduction would raise about one - quarter of the $ 4 trillion in revenues that some Republicans say they need to prevent tax cuts from creating a massive increase in the federal budget deficit.

Although bankruptcy would be an imperfect solution to out - of - control state deficits, it's the best option we have, at least if we want to have any chance of avoiding massive federal bailouts of state governments...

Consider the Fed's hike in interest rates on March 21, the passing of a massive $ 1.3 trillion spending bill on March 23 that dramatically widened the federal deficit, the resignation of former director of the National Economic Council Gary Cohn on March 6, the firing of former U.S. Secretary of State Rex Tillerson on March 13, the tariff tantrum between the U.S. and China on March 1 and Special Counsel Robert Mueller's probe.

Perhaps best known for advocating that the nation guard against the potential influence of the military — industrial complex, a term he is credited with coining, the speech also expressed concerns about planning for the future and the dangers of massive spending, especially deficit spending, the prospect of the domination of science through Federal funding and, conversely, the domination of science - based public policy by what he called a «scientific - technological elite».

Politicians seizing on painless ways to cut the deficit reinforce this perception of massive spending, and Americans believe them: In surveys, they estimate that as much as one out of four dollars spent by the federal government goes to foreign governments.

Rising interest rates alone would balloon the federal deficit, because interest payments on the massive outstanding government debt would skyrocket from today's artificially low levels.»

With massive budget deficits at the federal and provincial levels, justice budgets are likely to be on the chopping block.

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.»