Obviously Not Enough...Yet.
Most Colorado municipalities, including Loveland, rely on sales-tax revenues to build a budget around.
Loveland's sales tax has typically grown at least 4 percent annually, Hartman said.
That changed in 2009.
"This will be the first time that we have had negative growth at all," he said. "We have always had positive growth of some kind."
Loveland officials had predicted a 3 percent sales increase for 2009. Instead, city officials say Loveland could see a nearly 6 percent decrease.
"At this time last year, the economy was still clicking, everything was still going strong," Hartman said. "There was no real indication (of) what was going to happen."
A month after the 2009 municipal budget was approved, the city's sales-tax figures began to dwindle.
FOR THE FIRST TIME!!!!!!........Increases now decreases.......
It is simply impossible to pay off a massive debt load when revenues are evaporating. The BIG issue is when that debt is carried by the largest consumer in the world...the local, state, and federal govevrnments of the United States and is responsible for half of the GDP of the largest economy in the world....ours.