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In the last few months, to deal with "a major fiscal challenge", the government announced large unplanned cuts to the budgets that support increased participation of poorer students and allowances for disabled students in the university sector.
It's a major fiscal challenge.
We know that we've got a major fiscal challenge in reining in deficits that have been growing for a decade, and threaten our future.
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An October 2001 IMF assessment of Italy concluded: "Growth has disappointed over the past decade … and major fiscal challenges remain".
"Keeping in mind that in the wake of Sept. 11, the state is facing major fiscal challenges, including a projected $9 billion shortfall in revenue," she said, "we will continue to look for additional ways to help".
Kevin Quinn, a spokesman for the state budget office, said: "While the state faces major fiscal challenges due to 9/11 and the national recession, our schools will still benefit from overall spending levels that will place New York among the top states in the nation, and well above other major states, such as California, Texas and Florida".
"We must do better to make clear our nation's will, capacity and commitment to work together to tackle our major fiscal and economic challenges," he said.
"We must do better to make clear our nation's will, capacity and commitment to work together to tackle our major fiscal and economic challenges," the White House press secretary, Jay Carney, said.
"Obviously the United States has the capacity, the will, and the commitment to tackle our major fiscal and economic challenges".
What was a fiscal challenge is now a fiscal crisis".
That means a major fiscal stimulus.
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Justyna Jupowicz-Kozak
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