Inauguration night, featuring B-list celebrities and one amazing video game.
Vice President Biden’s chief economic advisor Jared Bernstein seemed loathe to make headlines during a forum the Metro Program staged last week in Washington with the National League of Cities (NLC) on the nation’s deepening local government fiscal crisis. Instead, he stuck close to his text, raised smart academic questions about possible courses of action, and emphasized he was not expressing any official administration preferences about how to proceed. And yet for all that, Bernstein committed news. Most notably, in a sign of gathering momentum for additional economic stimulus, he expresse
Mayor Michael Nutter of Philadelphia made a comment that prompted nervous laughter early in a forum the Metro Program held with the National League of Cities (NLC) yesterday on the looming local government fiscal crisis. Deadpan, he said: “Hearing a presentation that the recession is over reminds me of a sign I saw one time a couple years ago that said, ‘Mission Accomplished.’” The man has a point. That GDP does not equal jobs is well understood.
State government budget problems have been a well-publicized element of the nation’s ongoing economic crisis. Less remarked upon has been a lower-profile meltdown: the nation’s soon-to-be ugly local government fiscal mess. And now it’s time to tune in. How do things look? The short answer is: brutal!