(I’m paraphrasing). According to an AP story, Everybody’s Favorite Economist ™, Larry DeBoer, says that 2011 is going to be the year that the recession hits local governments, with an 18-20% drop in income tax revenue for counties statewide.
Professor Larry DeBoer told a meeting of Allen County officials on Tuesday that 2011 will be the year the recession hits local governments in Indiana. DeBoer warned that with less money from property tax, local governments will have to rely more on unstable revenue such as income taxes and fees.
(It’s worth noting how we got to where we are.)
In Indiana, municipal elections are scheduled for 2011 — excruciating local budget decisions will be made in summer and early fall. Election Day will be interesting!
Yeah, you think they thought about that when they passed it, Wilson?
Can soemone provide me the contact email for Larry I wold like to read the numbers for Hamilton and Marion County
Get a 100 year calendar.
Throw a dart.
Whatever date it hits is a day someone predicted would be a financial Armageddon.
I find the doomsayers who are correct are those who said their dooms prior to market downturns.