Big Money Woes Federal, State, and Local Levels

Federal, State, and local governments all face big money woes with few political ‘solutions’ that will be acceptable to the public. The end result will be a reduction in the standard of living for those without protection.

Headline: Emanuel faces big money woes as next Chicago mayor

"Not since the Great Depression have the finances of the city been this precarious," said Dominic Pacyga, a historian and author of "Chicago: A Biography." The city's next budget deficit could again exceed $500 million, mostly the result of reduced tax revenue from the recession, and could reach $1 billion if the city properly funds its pension system.

Source: news.yahoo.com