The US governmental budget crisis at the end of 2012 was referred to as the 'Fiscal (what geological term?)'?
Military budget of the United States internal study on how to save $125 billion on its military budget from 2016 to 2020 by renegotiating vendor contracts and pushing for stronger deals, and by offering workers early retirement and retraining. On 5 December 2012, the Department of Defense announced it was planning for automatic spending cuts, which include $500 billion and an additional $487 billion due to the 2011 Budget Control Act, due to the fiscal cliff. According to "Politico", the Department of Defense declined to explain to the House of Representatives Appropriations Committee, which controls federal spending, what its plans were regarding the fiscal cliff planning.
2008 Nevada budget crisis 2008 Nevada budget crisis The 2008 budget crisis in Nevada is an ongoing fiscal crisis in which the state faces a budget shortfall of at least US$1.2 billion out of a $6.8 billion budget. The budget crisis is a result of the larger subprime mortgage crisis and the late-2000s recession. The budget shortfall resulted in Governor of Nevada Jim Gibbons and the Nevada State Legislature making large cuts to many state programs and agencies. As the fastest growing state in the U.S. during the United States housing bubble, Nevada was hit especially hard by subprime mortgage crisis. The Nevada Policy