municipal gov't are like corporations they cannot have deficits and if they do they need to go to bondmarket for money and cannot get money from the FED. muni gov't lay off workers or cut services..... downsizing of the gov't sector..like financial sector was downsized.. taxpayers cannot afford the gov't budgets. property taxes etc cannot pay the deficits etc. day of reckoning,,,property taxes are too high vacant building and vacant homes don't property pay taxes. the amount money that is wasted by the gov't is unbelievable. even with bilions in taxes ,the gov't cannot even balance a budget. result: higher unemployment if municipal gov't cutback. in hiring. or layoffs.