Even before this week’s Wall Street meltdown, local governments were suffering from a bad case of financial heartburn. Now, the diagnosis may be full-fledged angina.A quick look at how the City Government and government agencies are weathering the current economic conditions.Revenues from economically sensitive taxes are dropping at the same time that borrowing has become more problematic, forcing everyone from the state to City Hall and the Chicago Transit Authority to ready cuts.
Dispatches from Chicago's south side.
Friday, September 19, 2008
Credit crisis piles on pain for local gov't
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