Financial crisis eats away at municipal budgets

• From: Vol 9, Issue 2 (February 2008)
• Category: General
• Region: Americas
• Country:

Spending on US municipal water projects could be severly impacted by wider financial woes, argues Kathy Shandling. Can local mayors rely on a federal bail-out?

The collapse of the US sub-prime mortgage market has dramatically impacted cities around the United States. At the recent winter meeting of the US Conference of Mayors, USCM president mayor Douglas Palmer of Trenton, NJ, noted that this facet of the wider financial meltdown has significantly contributed to the growing problem of vacant houses, depressed property values, tighter credit, and ...