posted on Feb, 16 2009 @ 03:54 PM
Originally posted by dreamseeker
I hope Missouris is not next.
My sentiments precisely!
I believe Missouri is a balanced-budget state, meaning by State Constitution, the Governor must balance the budget each year.
Gov. Jay Nixon laid out the grim budget during his State of the State address on January 27. According to his budget, the State of Missouri must
eliminate $900 million from the state budget.
The City of Kansas City, MO indicated last month they have to eliminate $60-90 million from their city budget. They have already declared an
immediate slashing in city services, including reduction of police officers by over 220.
While we may not be in the same situation as Kansas, the fact is like every other state, we live and die by property and retail taxes.
Foreclosures, lack of consumer spending will destroy us next.
Just wait until the commercial real estate bubble bursts in about a month or two.