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A direct fiscal stimulus is precluded by the staggering $445 billion deficit expected for the year.
Some cite the American budget deficit, expected to be 13.5% of GDP this year.
But the state's finances are down to the felt, with the deficit expected to hit $11 billion.
His orderly liquidation produced a surplus of $540m, instead of the $300m deficit expected when he started.
Gov. Kenny Guinn has asked state agencies to prepare to cut their budgets by 3percentt because of a deficit expected to be $140 million.
There was anxiety about the amount of gilts that will have to be sold next year to fund a deficit expected to top £170bn for a second year.
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Why are deficits expected to climb?
Those changes will still leave the MTA with massive deficits, expected to hit nearly $1bn a year by 2022.
[C3.] Three Years of Deficits Expected The Bush administration said it expected the government to run budget deficits for at least the next three years.
If the deficits expected over the next decade grew out of a new national health insurance program, say, instead of income-tax cuts, few Democrats would complain.
The Obama administration's Office of Management and Budgetraised its 10-year tally of deficits expected through 2019 to $9.05 trillion, nearly $2 trillion more than it projected in February.
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