Swimming pools and summer day camps for kids run by the city of Sacramento have cut back on their hours. The proximate cause is the drop in city tax revenue. Meanwhile, Arnie and CA lawmakers are fighting over an unbalanced state budget. CA has begun issuing IOUs instead of cash to some of its vendors. Seth
Date: Thu, 02 Jul 2009 13:10:29 -0500 From: Bill Quimby <[email protected]> Subject: Re: [Pen-l] local observations To: Progressive Economics <[email protected]> Message-ID: <[email protected]> Content-Type: text/plain; charset=UTF-8; format=flowed Nearby Kenyon College (Ohio) has had to cancel one (possibly more) of those summer-time athletic camps popular with middle-class kids and teens - low projected attendance. - Bill > On Thu, Jul 2, 2009 at 9:51 AM, Eugene Coyle<[email protected]> wrote: > From this local observation it appears the economy has really tightened its > grip on the middle class or upper middle class. Having ignored the downturn > for months they are now cutting spending, meaning, to me, that we are > beginning the next down leg of the depression.
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