Mortgage Crisis Crippling City Services? The subprime mortgage meltdown has hurt city and state tax revenues, and observers say those budget shortfalls could cripple public and social services. Christopher Hoene, director of policy and research for the National League of Cities, explains the link.
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Mortgage Crisis Crippling City Services?

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Mortgage Crisis Crippling City Services?

Mortgage Crisis Crippling City Services?

Mortgage Crisis Crippling City Services?

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  • <iframe src="https://www.npr.org/player/embed/17969145/17969130" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

The subprime mortgage meltdown has hurt city and state tax revenues, and observers say those budget shortfalls could cripple public and social services.

Christopher Hoene, director of policy and research for the National League of Cities, explains the link between the sub-prime crisis and the belt-tightening many cities will have to do in the next few years.