YUP, "THE BIG SHITPILE" IS AFFECTING TUCSON

That's what Atrios calls the paper the Masters of the Universe created out of sub-prime mortages. I figure Tucson will be in a full-blown recession by next summer.

Dip in sales tax receipts may crimp city's hiring
ERIC SAGARA
Tucson Citizen
Published: 12.03.2007

Jim Cameron, director of Tucson's Budget and Finance departments, said income from sales taxes has not met expectations, primarily because of an economy that has suffered from rising gas prices and the collapse of the subprime mortgage market.

The city at this point is $7 million below projections for the entire fiscal year.

A continuing decrease in sales tax revenues, coupled with a projected decrease in state income and sales tax revenues, could force the city to start leaving some positions open to bring it under budget for the fiscal year, Cameron said.