54% of U.S. Cities Face Red Ink in ‘92, Study Shows
Despite widespread tax increases and cuts in services, more than half of U.S. cities expect to face red ink this year, the National League of Cities said Wednesday.
A survey found cities facing budget problems regardless of size, from the biggest U.S. cities to towns with populations as low as 10,000.
The organization of mayors, council members and other municipal officials representing cities and towns of all sizes announced the findings in its annual survey of city fiscal conditions.
The league reported that 54% of the 620 cities and towns responding to the survey are carrying a negative balance for 1992.
Nearly as many, 52%, had a negative result in 1991.
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