Can the State of North Carolinatake money from Guilford Countyand The City of Greensboroto balance the state’s $4.5 billion budget deficit?

$15 billion in cuts

 

The rest of the deficit will be made up

by a combination of borrowing from local governments

shifting money from other government accounts

and accelerating the collection of certain taxes

 

…The sheer size of the deficit meant that any effort to balance the state's books

would be felt throughout the state, from college students seeing a sharp increase in fees

to local police and fire departments that face cuts

as the state takes money from city and county governments

 

…Legislative leaders also struggled

over whether to take some $3.7 billion from local governments

 

About $2 billion of that would come from property taxes

and would have to be repaid within three years

but city and county representatives said they wanted a guarantee

 

Cities and counties already are laying off firefighters

police officers, sheriff's deputies and park workers

because of their own budget problems

 

Some are threatening to sue

if the state takes their tax revenue for its own needs

 

California Budgt Deal

Schwarzenegger, Legislature Agree On Plan

To Close $26B Budget Deficit

Judy Lin

AP Via Huffington Post