Here's The Drastic Revenue Collapse Causing The Massive Layoffs By Local Governments


Photo: National League of Cities

Today’s jobs report showed state governments as the crucial economic problem.

Public sector layoffs are growing after a four-year decline in state revenue, according to annual report from the National League of Cities.

This problem will just get worse next year, as property taxes decline to reflect fallen property values.

87% of cities are Less Able to meet fiscal needs compared to last year

Cities that depend on property tax suffer the most

Western cities -- home to the largest property collapse -- are having the hardest time

Revenues have fallen for four straight years. Austerity really kicked in this year

Property tax revenues posted the largest decline this year and last

Here are the details on factors influencing the budget.

Here's the impact of those factors on the budget. ALMOST ALL NEGATIVE

And now the austerity measures: Personnel cuts, delayed projects and cuts in services lead the barrage

Forms of personnel cuts include hiring freezes, reduced expense accounts, and salary freezes -- and layoffs

Now here's how they're making up revenue: NEW TAXES AND FEES

Cities CANNOT run over the budget -- unlike the federal government -- but they're coming close

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