The Vise Continues to Tighten
By Christopher Galakoutis
Saturday, July 17 2010 8:51 AM

We continue to read daily of the budget struggles not only at the US federal government level, but all the way down the line from the state and local governments to the essential service providers.

Tax revenues are the crucial variable in any budget formula, and they have been falling for the last two years. Consequently, the trend since then has been for authorities to not only slash services but raise fees as well.

A perfect example is the plight of the New York Metropolitan Transportation Authority (MTA), which is seen by many as a microcosm of what countless other governments and agencies are facing around the country.

Read the remainder of this piece at Alrroya.com.



Alrroya.com is a bi-lingual financial news portal in the United Arab Emirates.