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State, local budget cuts a "time bomb" for jobs
• ReutersState and local governments will have to raise taxes and cut spending in the current and next two fiscal years to cover shortfalls totaling $469 billion, according to an Economic Policy Institute report.
The think tank -- where White House adviser Jared Bernstein spent years developing ideas found in the $787 billion economic stimulus plan he oversees -- said the U.S. government must give states and cities $150 billion in direct budget relief to save between 1.1 million and 1.4 million jobs.
1 Comments in Response to State, local budget cuts a "time bomb" for jobs
Sounds like a great plan to me: cut jobs and raise taxes. What could possibly be wrong with that?