"Council was asking us to approve a deficit budget - we are not willing to negotiate in this way, " Mr Schulz said.
Because of deficit budget cuts, states are either eliminating or tightening eligibility requirements for child care programs that used to serve the working poor.
The arithmetic, however, makes our growing trade deficit inevitable as long as our budget deficit is growing.
This year the United States is projected to run a budget deficit that amounts to 11.9% of GDP in 2010, the highest in the first world, according to the Organization for Economic Cooperation and Development (although the Congressional Budget Office puts the deficit-to-GDP ratio at 8.9%).
However, the campaign in Libya has re-ignited the debate that raged during the SDSR as to how the government could deal with the overall budget deficit and a black hole in the defence budget over the next decade without harming current operations and the armed forces' ability to deal with future contingencies.
So to satisfy the accounting rule, all the adjustment in the private-sector deficit had to be accommodated by a rise in the budget deficit.
The EU also launched an Excessive Deficit Procedure and requested that the government outline measures to sustainably reduce the budget deficit to under 3% of GDP.
Its budget deficit is running at an estimated 8% of GDP (including off-budget items).
Then, there is the emphasis the commission is now placing on the so-called structural budget deficit, a measure designed to express the underlying strength or weakness of the budget that irons out the impact of swings in growth.
The current account deficit has likewise fallen, meaning now that almost all of the country's massive budget deficit is being financed by its own citizens (though of course a significant chunk of the accumulated debt stock is foreign held - notably by Asian central banks).
"We need to make sure that everybody participates in getting us to a budget that deals with our debt and our deficit responsibly, " Budget Committee Chairwoman Patty Murray, D-Wash.
'Prudence with a purpose' that left us with the biggest budget deficit in the G20, we remember that.
At least some of the correction is likely to lead to a smaller budget deficit.
On July 30th, he unveiled a four-year plan to bring the government's budget deficit to heel.
Closing that tax gap would go a long way to closing the huge budget deficit.
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Its budget deficit is projected to fall to 4.6% of GDP in 2011 from 9.3%.
Despite devoting huge sums to the health service, it is running a massive budget deficit.
The budget deficit and the national debt are long term threats to American prosperity.
Innovation is our special sauce and our best hope for helping solve the federal budget deficit.
The budget deficit in 2011 was probably close to 10% of GDP, barely changed from 2010.
One such issue I can address is the problem of operating a budget deficit.
The Greek government is currently introducing austerity measures to help cover its budget deficit.
The IMF also called on the U.S. to try harder to cut its budget deficit.
In effect, the budget deficit is benefiting in the short run from the inflation.
Another longer-term structural black cloud looming over the U.S. Treasury market remains the huge budget deficit.
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And, sooner or later Congress will have to rein in the federal budget deficit.
The three percent budget deficit rule for admission was the right way to go.
Yesterday President Obama gave a major address on how to tame the budget deficit.
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These targets mandate that the budget deficit be reduced to specific levels by certain dates.
Specifically, a member nation should not have a budget deficit that exceeds three percent of GDP.
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