Friday, February 18, 2011

State & Local Shrinkage

More good reporting from Jon Perr:
  • The USA net fiscal stimulus was modest relative to peers, despite being the epicenter of the crisis.
  • Once you take state and local cutbacks into account, there was no surge in government spending.
  • Local governments are cutting jobs at the fastest rate in almost 30 years.
  • State and local governments has shed 407,000 jobs since August 2008.

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