Mairuidisi Whitney distinguished analyst forecasts, in 2011 more than 100 cities in the United States will declare bankruptcy, far more than the financial crisis, only 15 cities in two years filed for bankruptcy records. At the same time, budget and policy research center that the U.S. financial plight of local government in 2011 will result in elimination of 85 million jobs in an abandoned house
stand alone in the street, surrounded by weeds. Naughty children pick up a stone, forced to throw the house in the past. Crashed, broken glass, stones fly in, followed by a Children frightened, turned and ran. No one ran out of ten meters, it was a pit road stumbled and fell a mouthful of mud, crying.
This is the movie This is the war in Afghanistan or Iraq, scene? No, but there may be a few years the U.S. city of Hamtramck, Michigan (Hamtramck) of the real situation.
Recently, the city government to Michigan, filed for bankruptcy protection, while government leaders meet to discuss the 7 hours, developed a number of emergency measures to reduce municipal expenditures, management of municipal waste is no longer housing, pruning trees and grass cutting spending and other measures in which, once the budget dried up, the streets will stop the service. In fact, their desire was not high - quite to the March 1, 2011.
% or more. However, such a depression is not unique to Harbin, because it was predicted that by 2011 more than 100 cities in the United States will declare bankruptcy, far more than the financial crisis, only 15 cities in two years filed for bankruptcy records. And make such
Whitney fame in 2007 after she was ranked in the Wall Street analysts, around 1200, belonging to membership membership bunch of nobodies. October 31, 2007 became a watershed in her career on Wall Street - the beauty analyst predicted Citigroup (NYSE: C) insufficient to support the profits of the dividend to its original plan, will have to reduce dividends in order to balance income and expenditure. Forecast at the time she was seen as alarmist, but three months later, Citigroup announced that indeed the reduction of impairment of assets due to bear 41% of dividends, Whitney instant fame. October 31, 2008, she Citigroup faces $ 30,000,000,000 assess the funding gap, which lowered Citigroup's rating, the results the next day Citigroup shares fell 6.9%, dragging down the entire U.S. stock market wiped out 369 billion U.S. dollars a day, so get Whitney
2007 year, riding on a Wall Street analyst Whitney ranked number two; in 2008 by the American
is, therefore, Whitney in the CBS
Hamtramck City is just one example, once the bankruptcy petition is approved, it will become the first Michigan city bankrupt, the state government concerned, get out of hand. At that time, Whitney's prediction may come true.
tighten their belts Dakota and Alaska, four states are not debt. According to the CBS program said the U.S. government debt other places up to 2 trillion U.S. dollars, than the whole of Europe we still need more debt.
local governments have to tighten their belts, learning experience poverty.
California succeed the phone, to save $ 20,000,000 in expenses; famous To fill the gap of $ 68,000,000, had laid off 300 government employees, officials also need to return each year over the past 4 years, 6% pay rise ????< br>
local government leaders are not willing to drastically cut spending, cut government employees, but in order to survive, they have to do . But since the U.S. people are accustomed to moisture days, once the tightening up rather not meet, so all kinds of protests, demonstrations one after another:
2010 2 4, Michigan Governor Jennifer popular discontent ( Jennifer Granholm) proposed sales tax increase to prevent the budget deficit soaring, before the state legislature and education funding cuts; May, New York City Mayor Michael Bloomberg (Michael Bloomberg) plans to lay off 11,000, close five nursing homes, 4 swimming pools and 16 nurseries, has been strongly criticized the New York City Council??? ?
but the bad news is not over, according to Center on Budget and Policy Analysis and Forecast, the U.S. local government's financial difficulties will result in the elimination of 85 million copies in 2011 to work then, but even President Obama should complain incessantly.
the face of such difficulties, the state Executive can only call teeth. Economic recession, the sharp decline in local government revenue, but social security spending is increasing, the local government so heavily in debt. The huge debt is likely to cause breach of local government bonds, thereby greatly reducing the government's reputation, making the new bond issue is more no one is interested, to further reduce government revenue, more run up debts, in order to break this vicious cycle can only hope that in the economic boost.
2010 12 months, Goldman Sachs Group reported that the U.S. expenditure of local government budget cuts could lead to U.S. GDP growth by about 0.5%, which is in the process of slow recovery of U.S. economy is undoubtedly lose their . Whitney said: as soon as possible if local governments do not reduce the budget deficit, the U.S. economy is likely to lead to second bottom. Once this happens, the United States turn into another more vicious circle: recession - tax reduction - debt - budget cuts - a recession. A total of 2 1 [2] Next Last
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