Pretty soon the government is going to put us in money machines with the money we earn throughout the year. What you can grab you keep, what you can't grab the government keeps.
I am grateful that we live in a town where the selectmen are serious about controlling spending. Now only if we had a school district that would do the same.
Cathy Peschke
Spelling and grammar errors as well as typos are left as an exercise for my readers.
Quote of the Day - A bureaucrat is the most despicable of men, though he is needed as vultures are needed, but one hardly admires vultures whom bureaucrats so strangely resemble. I have yet to meet a bureaucrat who was not petty, dull, almost witless, crafty or stupid, an oppressor or a thief, a holder of little authority in which he delights, as a boy delights in possessing a vicious dog. Who can trust such creatures? ~ Marcus Tillius Cicero
NLC survey: Cities' financial distress will continue beyond 2010
Sep 3, 2009 1:40 PM
The effects of the recession will continue to drag down city budgets beyond 2010, according to a survey by the Washington-based National League of Cities (NLC). The situation reflects the typical 18-month time lag seen in the effects that economic shifts have on city budgets that results from the collection of tax revenues only at certain times of the year, according to NLC.
The report, "City Fiscal Conditions in 2009," found that cities face significant budget gaps this year because of a 1.3 percent decline of income tax and a 3.8 percent decrease in sales tax collections. Those taxes are typically the earliest source of city revenue to decline as job losses increase and consumer purchases decrease, according to NLC. Property taxes, which make up the bulk of city revenue nationwide, are beginning to slow, growing only 1.6 percent as real property assessments are adjusted to reflect declining housing values.
To read the rest of the story go to the American City & County website.
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