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The city has a recurring debt problem and nearly ran out of money in December.
In most cases, Mr. Reddam said, for a borrower to qualify for a mortgage, total monthly expenses -- including all recurring debt payments and the payment on the mortgage being applied for -- cannot exceed about 38percentt of gross monthly income.
"This is a combination of a recurring debt problem, which now is creating a major cash flow problem for the city," said Marc S. Ryan, who handles budget policy for Gov. John G. Rowland.
Sit down and make a list of every recurring debt you must pay - for example: rent or mortgage payments; utilities; car payments and insurance; etc.
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With $2 million in monthly recurring revenue, debt isn't hard to come by.
Never once does White, as he describes the vicissitudes of the prison itself, lose sight of the central sickening reality of debt – recurring, self-fulfilling, inescapable debt – as it affected the individual.
Mr. Suozzi, a Democrat, was elected in this fabled Republican stronghold last November after years of county fiscal mismanagement marked by recurring deficits, enormous debt and near junk bond ratings.
At diners, firehouses, town squares and a crawfish festival, they promised swift, bold changes in a financial crisis marked by choking debt, recurring deficits and grim choices between cutting services and raising taxes.
We're not been figuring out how to manage the pension behemoth or our other recurring and growing debt loads.
A pattern of denial in the face of mounting evidence has been a recurring feature of the debt crisis.Back in 2005 and 2006 received wisdom denied that the rapid growth of subprime mortgages was a problem.
This perhaps is easier to understand: take the mistakes that get made in a domestic context, then multiply them by ignorance due to distance and exchange-rate risk.The result is plain enough: recurring financial calamity; sovereign debt default; capital flight; currency crisis; bank failure; stockmarket crash.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com