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"It was to cover the overall program and to wipe out the existing deficit".
He intends to have the state borrow up to $15 billion to cover most of the existing deficit and impose a constitutional spending cap to avoid future overspending.
The proposal, which appeared all but dead early this week, would allow the state to borrow $15 billion this year to retire the existing deficit.
And the local authority says the Hewett's existing deficit, estimated at up to £350,000, will be paid out of the budget for its remaining 300 schools.
The Liberal Democrat leadership went into overdrive to quash claims that the social democrat Keynesians in the cabinet – Vince Cable and Chris Huhne – had mounted the standard of revolt and called for a shift away from existing deficit reduction plans.
We expect that it will be on the high end of our estimates, but [it] will not be as high as some economists have recommended because of the constraints and concerns we have about the existing deficit.
Similar(48)
And Spain's failure to hit existing deficit-reduction targets under the euro zone's rules could also hinder the process.
Standard & Poor's downgraded Italy's long-term sovereign debt by one notch to AA- from AA, citing a deterioration in public finances as Prime Minister Silvio Berlusconi promises tax cuts worth some $14 billion that could widen existing deficits.
It would take many years of rain to make up for existing deficits, and a single El Niño would not erase the problem of unsustainable demands on our water supply.
Unfortunately, no currently available treatment has been shown to reverse existing deficits or to prevent disease progression [ 3].
Since these subjects did not have symptoms of impairment, selection bias for simpler regimens in patients with existing deficits is unlikely to have confounded this finding.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com