This is what you get when you run out of other people’s money.
Providence saw one of the largest percentage-point drops in aid from 2007 to 2012 among the nation’s 250 largest cities, according to an analysis by The Wall Street Journal of data provided by Merritt Research Services LLC. A few cities’ figures weren’t available by August 2013, when Merritt collected the figures.
Last year, Rhode Island gave the city $37 million, or 8.39% of Providence’s general fund, the main pot of cash that pays for employees and basic services. In 2007, that figure was $67 million, or 16.74% of its general fund.
From the Wall Street Journal, read more here.
Latest posts by E.J. Smith - Your Survival Guy (see all)
- The Threat of a Cashless Society - August 18, 2017
- Targeting the Rich with Taxes Tends to Hurt the Poor - August 17, 2017
- Dan Mitchell Commenting on the DC Budget Fight - August 16, 2017