Taxes & Government Efficiency

The recession has pummeled state and local governments, cutting deeply into taxes and other revenues. But unlike the federal government, states and municipalities cannot borrow to close deficits. Virtually every governor and mayor in the nation is grappling with some level of budget cutting, and the often agonizing decisions that can require. According to a March 2012 Wall Street Journal article, state and local governments had reduced their payrolls by nearly 650,000 since mid-2008. They've also scaled back or eliminated an array of services.

Created On: 01/03/2012