By
December 7, 2009

Statement:

"I would emphasize that we feel that it's important that we get targeted fiscal assistance to local government, whether it is through infrastructure projects… or whether it's Energy Efficiency Block Grants, or Tiger grants, or CDBG. These are all formulas that have worked in the past, and to get money to where people live, where people work, where the GDP is produced in this country, we have to target those kind of opportunities." – Des Moines Mayor Frank Cownie.

Response:

"As tough as this financial crisis or recession has been on the federal budget, it has in some cases been worse on state and local government budgets…. Usually, state and local government revenues lag the recovery as a whole. They may need some more help from the federal government, and I think it is important particularly for business leaders here to understand that fact. If you see a complete collapse in state and local government spending on basic needs, that could create a very bad business climate for all of you." – President Barack Obama.