Sentences with phrase «of federal budget deficits»

Practitioners who must deal with buyers» dismay over ever - increasing municipal taxes and decreasing services know the true cost of federal budget deficits, which trickle down to already strapped state budgets.

And almost immediately, Mr. Jones found himself representing the department in highly publicized Cabinet meetings last week devoted to discussions of the federal budget deficit and the need to trim federal spending.

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.

Most chatter about the 2016 federal budget will be about the size of the deficit.

Ahead of the 2016 federal budget, I had a list of eight things to watch for, beyond the size of the deficit.

In his first term, Bush won passage of tax cuts that helped swing the federal budget from surpluses to deficits.

Office of Management and Budget Director Mick Mulvaney argued earlier this week on CNN's «State of the Union» that increasing the federal deficit is necessary to unlocked the desired economic growth the Trump administration has targeted.

Thirteen months later, with Canadians staring at a $ 56 - billion crater in the government's finances, the minister got testy with reporters who were asking for his response to a report from the Parliamentary Budget Office that predicted a federal deficit of nearly $ 20 billion in 2013 - 14.

Through a combination of $ 1 billion from the sale of GM shares, a $ 2 billion reduction in the contingency fund and $ 1.8 billion taken out of Employment Insurance (a holdover from Budget 2014), the federal government was able to turn a modest deficit into a $ 1.4 billion surplus.

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.

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.

Republicans in the U.S. House of Representatives forged ahead on Tuesday with legislation to reshape the federal tax code, while a top credit - ratings agency said the bill would balloon the budget deficit and give only a temporary boost to the economy.

In a commentary in The Wall Street Journal this week, former vice president of the Federal Reserve Alan Blinder writes that Trump's tax cut plans — the largest of all the presidential candidates — would cost the nation $ 9.5 trillion over the next decade, which in turn would make the budget deficit balloon to ruinous effect.

Democrats call the Republican proposal a giveaway to corporations at the expense of the middle class, issuing dire warnings about the $ 1 trillion or more it is projected to add to federal budget deficits over a decade.

The Congress faces an array of policy choices as it confronts the challenges posed by the amount of federal debt held by the public — which has more than doubled relative to the size of the economy since 2007 — and the prospect of continued growth in that debt over the coming decades if the large annual budget deficits projected under current law come to pass.

Q: Will Congress» approval of trillion - dollar federal budget deficits this year and next and perhaps into the future be good for the economy?

If current laws remained generally unchanged, the United States would face steadily increasing federal budget deficits and debt over the next 30 years — reaching the highest level of debt relative to GDP ever experienced in this country.

Even when announcing in November that the federal deficit would come in at $ 26 billion, $ 5 billion higher than predicted in the 2012 budget, the minister couldn't resist gloating: «Unlike many of Canada's counterparts in the G7, we remain on track to return to balanced budgets over the medium term.»

Notwithstanding the Conservatives» repeated rejections of the PBO claim, last year's budget was an implicit admission that a significant portion of the federal government's deficit was structural.

However, a budget deficit that takes the form of transfer payments to banks, as in the case of the post-September 2008 bank bailout, the Federal Reserve's $ 2 trillion in cash - for - trash financial swaps and the $ 700 billion QE2 credit creation by the Federal Reserve to lend to banks at 0.25 % interest in 2011, has a different effect from deficits that reflect social spending programs, Social Security and Medicare, public infrastructure investment or the purchase of other goods and services.

Posted by Nick Falvo under aboriginal peoples, Balanced budgets, child benefits, Child Care, corporate income tax, CPP, debt, deficits, early learning, economic thought, federal budget, fiscal federalism, fiscal policy, homeless, housing, income distribution, income support, income tax, Indigenous people, inequality, labour market, macroeconomics, OECD, Old Age Security, poverty, privatization, public infrastructure, public services, Role of government, social policy, taxation, women.

In the February 2014 Budget, the federal government forecast a deficit of $ 16.6 billion.

The new federal budget plan matters and is increasing defense and nondefense spending to the tune of $ 300 billion, which would put the fiscal year 2019 deficit at over $ 1 trillion or 6 % of gross domestic product (GDP).

Posted by Nick Falvo under Bank of Canada, budgets, China, Conservative government, deficits, economic crisis, economic growth, employment, exchange rates, federal budget, fiscal policy, global crisis, household debt, IMF, interest rates, labour market, macroeconomics, manufacturing, monetary policy, recession, stimulus, unemployment.

Canada's economy will not fully recover until 2013 and the federal government will carry a structural budgetary deficit of C$ 19 billion ($ 17.6 billion) after the crisis, a report by the parliamentary budget officer said on Monday... «PBO calculations continue to suggest that the budget is not structurally balanced over the medium term,» the report said.

Past achievements include building the case for deficit reduction in the 1980s and early 1990s, for consolidation of the Canada and Quebec Pension Plans in the late 1990s, a series of shadow federal budgets and fiscal accountability reports in that began in the 2000s, and work on marginal effective tax rates on personal incomes and business investment, which has laid the foundation for such key changes as sales tax reform, elimination of capital taxes, and corporate income tax rate reductions.

Reining In Rates O'Neil, one of the managers of the $ 26 billion Fidelity Total Bond Fund, said rising bond yields could be reined in by at least three forces: Federal Reserve Chair Janet Yellen's commitment to a very gradual program of rate hikes, the traditional aversion to budget deficits by the Republican - controlled Congress, and buying by overseas investors who may use the recent jump in rates to snap up more Treasuries.

They argue that, since 2009, the federal government's plans to balance the budget have been based on «risky projections, optimistic forecasts of revenue growth and unrealistic plans for spending restraint», which have resulted in increases in the projected deficit with each successive budget, and the pushing out of the date that the deficit would be eliminated.

The federal government recorded a budget deficit of $ 215.2 billion in February, up significantly from a year ago as the impact of the GOP tax cuts passed in December begin to surface.

The Federal government is expected to boost the amount it intends to borrow in the coming months, as the Treasury contends with declining tax receipts as a result of the recent corporate and personal tax cuts, as well as widening budget deficits and a Federal Reserve that is slowly reducing its own holdings of government bonds.

In the 2006 Budget, the government promised to reduce the deficit by $ 3 billion per year; to reduce the federal debt - to - GDP ratio to 25 per cent by 2012 - 13; to eliminate the total government sector debt (which includes the federal, provincial and local governments as well as the Canada and Quebec pension plans) by 2021; and finally, to keep the growth in program expenses below the rate of growth in nominal GDP.

I'm not sure how Obama thinks he can smooth this one by all Federal taxpayers outside of the State of Illinois (which itself is running something like an admitted $ 21 billion budget deficit).

Posted by Nick Falvo under Bank of Canada, banks, budgets, Conservative government, consumers, deficits, economic growth, economic models, economic thought, employment, Europe, exchange rates, federal budget, fiscal policy, household debt, housing, inflation, interest rates, monetary policy, oil and gas, prices, Role of government, social indicators, tar sands, US.

Such counsel flouts the current policy stance of the federal Conservative government, which is to eliminate the budget deficit next year.

Since then, the elimination of the deficit has been the priority of every federal budget.

With the federal budget coming soon, it is also worth recalling that the Liberals promised to run deficits of no more than $ 10 - billion for a maximum of three years, but the government's latest projections peg its annual deficits at almost $ 30 - billion with no timeline for returning to a balanced budget.

Posted by Marc Lee under budgets, debt, deficits, federal budget, macroeconomics, public services, Role of government, stimulus, taxation, US.

The bottom line is that after the prolonged tax giveaway exacerbates the federal budget deficit — along with the balance - of - payments deficit — we can expect the next Republican or Democratic administration to step in and «save» the country from economic emergency by scaling back Social Security while turning its funding over, Pinochet - style, to Wall Street money managers to loot as they did in Chile.

Chapman expects it will develop into a prolonged recession caused largely by the bursting of the housing bubble and the weakness in the dollar attributable to the United States» large federal budget deficit and international trade imbalance.

Forecasters tended to overestimate the drag from federal budgets deficits during the late 1980s, the banking crisis in the early 1990s, and most of the subsequent crises that we faced during the past two decades.

So the budget deficit is actually greatly understating what is happening to the level of federal debt which wasn't always the case.

Fiscal policy has become more expansionary over the past year, with the recent fiscal package contributing to an estimated federal budget deficit of just over 4 per cent of GDP this year, up from around 1 1/2 per cent in 2002.

In its latest update, the Office of the Parliamentary Budget Officer estimated that the federal deficit could be about $ 5 billion lower.

Yet Republican deficit hawks are balking at an increase in federal spending after the recent passage of the tax reform plan and 2019 fiscal year budget.

(CNN)- In the midst of a ballooning deficit, an unbalanced federal budget and the upcoming presidential election, Congress doesn't need to be worried about poverty in America, right?

Ryan's advocacy for cutting taxes and trimming the deficit — he is the architect of the GOP's proposed federal budget — married with his willingness to talk about fiscal belt - tightening in moral terms and his low - key social conservatism speak to a political moment in which the economic concerns of the Tea Party and the social focus of the Christian right have merged into a relatively cohesive anti-Obama movement.

As the budget deficits of the federal, state and local governments increase, the possibility of taxing church property also rises — despite the long history of tax exemption.

Long's release snarked that Gillibrand «took a break from her book club» (part of her Off the Sidelines campaign to get more women involved in politics) to tackle trade in hopes of deflecting attention from skyrocketing gas prices, the high unemployment rate, the growing federal deficit and lack of a federal budget for the past three years — the entire time Gillibrand has been a sentor.

Maggie is committed to cutting the deficit and balancing the federal budget,» says Sandra B. Mortham, Chairman of Maggie's List and former Florida Secretary of State in a statement.

Trump unveiled a $ 4.4 trillion budget for next year that heralds an era of $ 1 trillion - plus federal deficits and — unlike the plan he released last year — never comes close to promising a balanced ledger even after 10 years.