What about bail out for states, cities, counties?
2 comments November 11th, 2008
What about a bailout for states and local governments? They may not have the clout of the auto industry or Wall Street financial houses, but state and local governments are reeling from the economic tumble. If the aim of the incoming Obama administration is to stop job loss, they’d do well to start with their brother and sister governments. Illinois’ revenue is down $800 million in Fiscal Year 2009, blowing a bigger hole in the budget that is already out of balance to the tune of $2 billion. States, counties and cities, and other governments, are no different than business, if the money is not coming in, they have to lay off people, who no longer have disposable income, making the nation’s economy worse.
Obama needs to assemble an aid package for states and local governments and begin a massive infrastructure program to put millions of Americans to work. Our nation’s infrastructure is sinking to third world levels, meanwhile Europe and China are rapidly passing us by.
