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In an era of straitened budgets, obligations of this magnitude can make ambitious infrastructure hard to justify, no matter the system's requirements.
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Prime Minister Fayyad has expressed keen concern over meeting his budget obligations in the coming months.
The present value of the increase in America's future age-related budget obligations is about five times its GDP.
At least 30 states are considering tax hikes or widespread cuts in services -- at the worst possible time -- to meet their budget obligations.
According to a state government calculation, for the city to meet its budget obligations next year its mill rate would have to rise from the current rate of 74 mills to 111 mills, unless costs are cut somewhere.
But even the strongest education supporters said they believed any budget the school board tries to present will be defeated in referendum, and that would mean reverting to the current year's $28 million budget and no increase in spending, which administrators said would actually mean a decrease because of rising budget obligations.
The bill, when signed into law by President Barack Obama, will enable the US government to borrow money to fund its budget obligations and debt service.
"And we don't need Washington putting states on the hook for future budget obligations".
Throughout California history, only bonds re-paid by taxpayers through the state budget — general obligation bonds — have been subject to approval through a ballot measure.
Hospital, corrections and municipal officials have long complained about people with mental illness crowding emergency rooms, homeless shelters and prisons in Massachusetts, saying mental health budget cuts transfer obligations to them.
Most of all, it stopped the rapid consumption of the state budget by pension obligations, which threatened to hit 30percentt or more if not contained.
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CEO of Professional Science Editing for Scientists @ prosciediting.com