Sentence examples for large budget gaps from inspiring English sources
You correctly acknowledge that the Metropolitan Transportation Authority will face large budget gaps due to the increased debt service in its new capital plan (editorial, May 4).
State and local governments are also cutting jobs to close large budget gaps caused by the drop in property taxes as repossessions rise and housing transactions remain at a low level.
Mayor Rudolph W. Giuliani's four-year spending plan leaves New York City with dangerously large budget gaps that could force layoffs and cuts in city services after the mayor leaves office, City Comptroller Alan G. Hevesi said yesterday.
"There will be no confusion about the gravity of the situation," said Mr. Paterson, who has been sounding the fiscal alarm repeatedly in recent months, as state budget officials began forecasting large budget gaps and a prolonged and deep recession in the state.
And sure enough, the administration's estimates show that the travails of Wall Street, drops in consumer spending, and tens of thousands of expected job losses have hurt the state's bottom line, adding billons of dollars to what were already large budget gaps.
They have begun to demand that governments with large budget gaps start to pay higher interest rates on their bonds to reflect rising sovereign risk — a development that will lead to higher borrowing costs in countries like Britain, Greece, Ireland and Spain.
The mayor had called for 15percentt cuts from almost all the agencies -- save uniformed forces and the Board of Education -- in October, citing a large budget gap caused largely by the terrorist attack in September.
"New York State will face another large budget gap this coming year," said Frank Mauro, the institute's president.
Mr. Pataki's aides said that about $96 million would go to local governments, primarily New York City, whose leaders are also struggling to close a large budget gap.
But mindful of last year's defeat, Dr. Dean said that despite a large budget gap, he did not intend to try to get more money from cigarettes this year.
The director of Baltimore's planning department, Thomas J. Stosur, said that with the city facing a large budget gap last year, the subsidy cut was unavoidable.
