NLC and Brookings Present: Fiscal Challenges Facing Cities: Implications for Economic Recovery

Source: Brookings Institution and National League of Cities, November 19, 2009

The current economic crisis is not only a national crisis; it is also a metropolitan crisis. And soon the downturn will bring a local government fiscal crisis. Given the normal lag time of 18 to 24 months between changes in the economic cycle and its impact on city fiscal conditions, local officials anticipate that the next year or two will bring large-scale city government layoffs, deep cuts to local government services, and halted or delayed capital projects. Just as federal stimulus package spending trails off, city fiscal dynamics could well place a serious drag on economic recovery.
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