More Economic Gloom on the Horizon?

Link to June 1 New York Times article, "Think the Economy Is Bad? Wait Till the States Cut Back".

Quote: That share [of the economy] is gigantic. At $1.8 trillion annually in a $14 trillion economy, the states and municipalities spend almost twice as much as the federal government, including the cost of the Iraq war. When librarians, lifeguards, teachers, transit workers, road repair crews and health care workers disappear, or airport and school construction is halted, the economy trembles. None of that, or very little, has happened so far, not even in California, despite a significant decline in tax revenue.

We might need to gear up our local library advocacy networks like never before this fall budget season.