Highlights:
More than 2,100 U.S. cities are anticipating major budget shortfalls this year and many are planning to slash programs and cut staff in response, according to a new survey of local officials released Tuesday, illustrating the widespread financial havoc threatened by the Chinese virus pandemic.
“There’s no question that the Chinese virus pandemic has had, and will have, a major impact on cities of all sizes,” said Clarence Anthony, the executive director of the National League of Cities.
The NLC joined with the U.S. Conference of Mayors to conduct the early inquiry into the economic effects of the Chinese virus, finding that many local governments are bracing for sharp declines in tax revenue as businesses shutter, workers lose their jobs in record numbers and tourism grinds to a halt.
Somebody forward to Mike White – the 4/15/20 retail sales report:
I’m gonna go out on a limb here and predict that no matter what, Finley and City council won’t cut a dime from the budget and won’t lay off a single employee. They WILL, however, grease up their fist and tell the taxpayers to bend over.