fiscal crisis of the state

基本解释

However, due to moral hazards, the fiscal cost has expanded again and again in dealing with the financial crisis of state-owned commercial banks.
但是由于道德风险的存在，使得财政在处理国有商业银行财务危机中发生的成本一再扩大。
As E. J. McMahan, of the Empire Centre for New York State Policy, says, “the president is not doing New Yorkers any favours. He’s the only governor we have in the middle of a fiscal crisis.”
Mcmahan在纽约州立法的帝国中心说，“总统没有帮纽约州什么忙，他是经济危机中的唯一州长”。

In fact, they eventually add up to a classic Ponzi Scheme that ultimately collapses in a fiscal crisis of the welfare state.
FORBES: The Fiscal Crisis Of The Welfare State
Ultimately, this game leads to a fiscal crisis of the welfare state as the political dynamic stimulates an insatiable appetite for forcibly taking resources from other people to be allocated from the center to satisfy political demands.
FORBES: The Fiscal Crisis Of The Welfare State
In testimony before the House Budget Committee Feb. 9, 2011, Federal Reserve Chairman Ben Bernanke blew the whistle on these projections when he endorsed large spending reductions and fessed up that unless Congress cuts spending dramatically there is no way to grow our way out of a looming fiscal crisis of the welfare state.
FORBES: Are Republicans Going All Wobbly On Spending?