Tough tales of two cities.(New York and Los Angeles)

From: U.S. News & World Report | Date: June 9, 2003| Author: Glasser, Jeff; Streisand, Betsy | Copyright information

For America's cities and states, these are the worst of times. A weak national economy, coupled with rising costs for services like healthcare and homeland security, has led to fiscal hemorrhaging and yawning budget gaps in city halls and statehouses across the country. The states are facing a total projected shortfall of $80 billion to $85 billion for fiscal year 2004. They got a bit of relief last week, however, when President Bush signed the $350 billion tax-cut plan passed by C...

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