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Investors in traditional municipal bonds are paid from tax revenue, a diverse base that can be increased by governments if shortfalls arise.
But if shortfalls in German bond auctions are routine, few have seen such a big gap — 35 percent — between the size of the offering and the number actually sold.
If the yield is low, the college will have to go to its waiting list to meet tuition revenue targets, and if shortfalls persist over several years, no one's job will be safe.
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Never mind if the quality of care declines, or if budget shortfalls force the rationing of medical services and the withdrawal of care for the elderly.
Scott Pattison, director of the budget officers' group, said, "If economic conditions remain stagnant or worsen, and if budget shortfalls continue next year, the states will have exhausted many of their options for countering a weak economy".
But it will be difficult to avoid one if spending shortfalls continue.
A study, released on 8 July by Cambridge University for the housing charity Centrepoint, warned that almost 1 million additional affordable rental homes are needed by 2021 if severe shortfalls between housing demand and supply are to be met.
What if RMD shortfalls are not detected until the taxpayer's returns are examined by the IRS? Obviously, this is a more difficult situation.
When asked by the commission if the shortfalls would prohibit the effectiveness of the cameras, Gomez said he was confident that they would meet the department's needs even if put on the street without improvements. .
If a shortfall still exists in 2015, the merger requires that it be closed.
But if the shortfall in demand persists, inventories are run down, leading to an even sharper fall in output.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com