Staring Down The Barrel Of....

When you are staring down the barrel of something, you are faced with an imminent danger (one which happens soon). 


This is used in a political context.


Example: "New York City is staring down the barrel of a $4 billion budget deficit next year. Mayor Michael Bloomberg has called on his city commissioners to look at their departments and slash a combined $800 million from the current budget and $1.2 billion from the next budget."