"The recession that began in 2007 created budget emergencies in almost all U.S. states and in many cities and counties, spotlighting deeper, long-standing fiscal problems.
Members of Congress are now worrying publicly that the only solution will be a sweeping federal rescue -- one that Washington can barely afford under the burdens of its own massive deficit.
Analysts, taxpayers and investors in the $2.9 trillion municipal bond market have begun to worry about possible consequences of the budget crises.
Below are the top threats to the economies of state and local governments and to those who buy and trade their debt"............a must read.........read it here
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