NCPR: Politicians May Have to Cut Programs Due to Bank Failures (2008-09-22)

Politicians will have to consider cuts to public programs due to decreased government revenue from taxes on banks and investment companies, according to NCPR political reporter Brian Mann.

Candidates will likely not address these cuts during the campaigns, but they will have to make decisions after November.

"A lot of local governments are going to be faced with a really tough decision. Do they deeply cut programs -- schools, healthcare... or do they boost property taxes?" Mann said.

"That's the big political question that's going to be facing a lot of politicians in the North Country [of New York], mostly after the election," he added.

"I don't think we'll see the full range of what the price tag for this is going to be until after the November election. Politicians generally like to push the worst of the news back until the worst of the news is over," Mann said.

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