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That would drive tax rates up sharply for most people, which might reduce budget deficits.
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This means that doing so might reduce the budget for other priority activities unless the total budget allocated from central level was increased.
In addition, will central banks feel able to increase interest rates if taxes are rising as well Conversely, if steps are not taken to reduce budget deficits, investors might push up bond yields sometime in 2010, affecting corporate and mortgage borrowing costs.
It's the kind of idea Democrats might have scoffed at in the past; President Barack Obama, for instance, tended to agree with Republicans that it was important to reduce budget deficits.
This approach might reduce the federal budget deficit on the ledger but it doesn't actually save anyone any money, said Joe Baker, the president of the Medicare Rights Center.
Mr. Rauner warned last week that to close the budget gap, he might reduce services for the elderly and working poor and abandon ambitious plans for highway infrastructure.
So here's the dilemma: should a future government try and trim the budget - which might reduce the deficit and be popular with many voters - or should it just accept that increasing welfare payments may be the best means of reducing poverty?
Mr. Bloomberg further suggested that the city might reduce its contribution to the Metropolitan Transportation Authority's budget.
Mr. Franchella said he might reduce the number of cars he keeps on the lot, slash his advertising budget and cut down on office supplies.
This might reduce the risks of hacking.
Reducing budget deficits remains at the top of that list.
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CEO of Professional Science Editing for Scientists @ prosciediting.com