Government’s unquenchable thirst for money and power continues despite America’s cratering economy.
Throughout the government’s COVID-19 impositions, no one at local, state or federal levels has lost a paycheck. Many government employees have received their paychecks in spite of having no work whatsoever to do.
But the cratering economic stability of the country is already causing major shortfalls in expected government revenues.
For states like Texas, Alaska and New Mexico which depend on oil revenue to balance their budgets, finances are declining rapidly.
Alaska is projecting an $815 million shortfall in revenues in the coming fiscal year, and New Mexico could see a $1.5 to $2 billion drop.
Nashville Mayor John Cooper is openly proposing raising property taxes by 32% in order to correct an estimated $250 million budget shortfall.
Dallas, TX is looking at a proposed 8% increase in property taxes.