States struggle to secure cash for projects, operating costs

10/5/2008 | Washington Post, The

Many state and local governments are struggling to borrow cash for short-term needs. The credit crunch could also delay more extensive long-term projects involving roads, schools and airports. In California, Gov. Arnold Schwarzenegger has warned that the state may need a federal loan to meet operating costs. Observers note that many states turn to short-term borrowing to meet operating costs near the end of the year.

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