The Fed Could Help Cash-Strapped Cities and States. Mnuchin Has Other Ideas. ...Middle East

Right now, cities and states across the country are being forced into crippling budget cuts. As tax revenues fall in the pandemic-induced recession, officials are shrinking public payrolls and slashing services. Even the traditionally Republican American Enterprise Institute has come to warn about the risks to the economy from these cuts, projecting a $105 billion shortfall in state revenues in the current fiscal year—and a gap more than twice as large in the coming year. These shortfalls bring real pain. As just one example, even as 500,000 people were counted as unemployed in New York City in September, Mayor Bill de Blasio, facing a $5 billion budget deficit, announced he would have to la

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The Fed Could Help Cash-Strapped Cities and States. Mnuchin Has Other Ideas. ...Middle East

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