Partly ugly with a chance of oh-hell-no.
Along about March 1st it is going to hit many folks that the Messiah did not come into office with a magic sack of gold. Then the stuff is going to hit the fan.
States and localities banking — really banking — on a federal bailout will be in the middle of budget season with no way out except to slash spending or hike taxes. County manager Harry Jones is already quietly telling friends that Mecklenburg County will face a tough time making the numbers work. No surprise as the county became addicted to nearly double-digit revenue growth during most of the decade.
One bright spot is that the fall in oil prices as reduced pressure on US Airways somewhat, so the threat of CLT losing the major reason for its airport and a big local employer has receded. But overall, remember this: 2009 will be worse than 2008.
