[Political Center] Municipal Budget Stress Slashes Jobs

Posted by Jonathan J. Miller -Monday, October 18, 2010, 8:58 AM
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Two past victims guests on my podcast, Barry Ritholtz and Dan Gross talk about the reality disconnect between state and federal budgets and jobs.

Its a compelling discussion. They’ll be more of this as Yahoo – Dan is the new finance editor.

Dan says

But as the debate rages on in Washington about whether to enact austerity measures, something interesting is taking place, Dan notes: Cutbacks are already taking hold at the state and local level where school districts are cutting teacher jobs and public transportation rates are rising.

Barry says

Austerity vs. stimulus is a “convenient political issue for politicians to hammer each other about,” he says. “But the reality is, it is the state governments, it is the counties, it is the local townships that are doing all the slashing.”

I’m thinking the next bailout will be state and local governments.

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