Friday, July 3, 2009

US states face budget meltdowns

By Steve Schifferes
Economics reporter, BBC News

Fireworks at the Arch, St Louis, Missouri
Fireworks traditionally mark US Independence Day

Fourth of July celebrations will take place across US cities and states on Saturday to celebrate American independence day. But they are likely to be subdued, with many cities cutting back or eliminating the elaborate firework displays that have been a key feature of the celebrations.

It is the latest sign of the fiscal crisis that is spreading across the nation as the recession has had a dramatic effect on state spending. more...

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