Monday, November 24, 2008

deficit spending, no problem

On average, U.S. cities saw spending jump 3% in 2007, while tax revenues remained flat, according to the National League of Cities' annual report. Nearly two-thirds of city officials polled by the league expect revenues to take a larger hit this year, as tax bases continue to shrink and businesses contract. "Any form of government that has a heavy reliance on property tax is going to face massive budget shortfalls," says Matt Moon, a spokesman at the Tax Foundation, a nonprofit tax research group. It appears that we are NOT the only idiots who are spending more while taking in LESS. This is of little comfort to the beleaguered taxpayers in the Springs. Can it be that our city officials are NOT worried about their deficit spending because THEIR paychecks wont be affected, and they just plan on continuing to raise our taxes and fees to pay for their stupidities/cluelessness/corruption?

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