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Slowdown in State Local Spending Cuts Push Back Economic Recovery
The slow pace of state and local government spending, now about 15 percent of GDP, may dampen the U.S. recovery for years. NYC’s fiscal crisis is cited as a intensifying factor. Gov. Daniel Walker of Illinois trims a 10.8 billion budget by six percent, while economists differ on the impact on output growth and employment.
MENTIONED IN THIS ARTICLE
Times News Service
New York
United States
New York City
Illinois
Daniel Walker
Walker
Okun
Brookings Institution
U.S