Both Mecklenburg County and the city of Charlotte are slowly facing up to the fact that wild spending plans may have to be chopped down to size. The county will not be able to borrow nearly the $376m. it once intended. In fact, I’d be shocked if half that amount goes to market.

Meanwhile, the city is seeing a significant slowdown in revenues as reported by WBTV’s Jeff Atkinson:

Sales tax revenue is down four percent from last year.

Hotel-Motel tax is off 7-point-6 percent.

Rental Car tax is down 20-percent.

City debt packages will likewise have to be held in check while the budgets of all the special Uptown projects funded by the dedicated revenues get a good sweat. Mayor Pat McCrory seems to think it is great that the city has saved $3.6m. since July. All that tells me is that the city had been spending at least $15m. a year that it should not have been spending.

Like I said before, the spring budget-writing season should be a hoot.