Wall Street Journal: U.S. Cities Grapple With Finances
American cities’ fiscal health is lagging behind other sectors of the economy as the recovery slowly takes hold.
Cities are also reeling from the loss of another significant source of cash: state aid. States turned off the tap when income- and sales-tax revenue began to dry up during the recession. They cut municipal assistance by $31 billion, or 6.2%, between 2009 and 2011, according to the most recent data available from research nonprofit Pew Charitable Trusts.
Read the full article at wsj.com.
- American Cities Project