Some election promises can be delayed, but there is little room
for more spending cuts and tax increases are out of the question.
There are no federal student loan provisions targeted in this package, but the President has indicated he wants to
send more spending cuts to Congress in the future and those proposals could see education funding reduced.
«That's why the chancellor is now asking for
even more spending cuts, with most big departments yet to reach agreement.
Philip Hammond has made clear he is far from waving the white flag
over more spending cuts, after George Osborne reconstituted the «star chamber» to bring Whitehall's biggest beasts into line.
Councillors are mulling over Eric Pickles» ultimatum that they should either cope
with more spending cuts or offer a referendum to voters.
«The # 1bn loss we are likely to see on this sale allows Osborne to continue to plead poverty and
inflict more spending cuts on those least able to afford them, while the bankers walk away with a tidy profit.
In the meeting he stated that the Conservatives in office could
make more spending cuts than they were promising in their campaign (including in their manifesto) before the general election.
«There is no reason why a coalition government should lack ambition, and we will be working hard to ensure that the Emergency Budget contains a
lot more spending cuts than have so far been announced.»
ALBANY, N.Y. (CBSNewYork / AP)-- New York Assembly Speaker Sheldon Silver said public support for a «millionaire tax» to
avoid more spending cuts is growing and he thinks Gov. Andrew Cuomo and the Senate's Republican majority may yet support it.
With only two months to go before the chancellor's autumn statement on November 29, the coalition is on course to face the choice of prolonging austerity measures well into the next parliament or to
introduce more spending cuts or tax increases to balance the government's books on the current schedule.
he wants to
send more spending cuts to Congress in the future and those proposals could see education funding reduced.
Cuomo watchers predict, however, that he will back Paterson's call
for more spending cuts and oppose Ravitch's proposal.
On the other hand,
more spending cuts could certainly stifle the economic rebound everyone expects to see in the second half of the year after the flimsy performance of this just - ended second quarter.
The governor remains steadfastly opposed to raising taxes in the coming budget year, making either
more spending cuts or creative revenue raisers his options in closing the deficit.
That scenario is if there are
no more spending cuts, McMahon added.
Cuomo says trying to raise over $ 40 billion through New York's budget, either through new taxes or
more spending cuts, would «incapacitate the state.»