ECONOMIES OF AMERICAN CITIES
American cities are in trouble, the recession is straining cities' ability to meet their financial needs causing them to cutback on essential services, implementing hiring freezes and layoffs, delaying capital expenditures.The way out is to increase taxes or fees or both. The impact to businesses and the financial markets is harsh with 80% (CNN Estimate) in trouble.
Can the stimulus package or big government stop the trend? Will the further decline put a larger drag on the predicted financial recovery of the nation? Will reduction in services drive higher crime and further deterioration?
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