D.C. auditor projects declining revenue as city faces budget shortfall
An independent forecast from the Office of the D.C. Auditor finds that job losses, economic uncertainty, congressional spending cuts and plunging commercial real estate values have decreased projected revenue from $12.2 billion to $11.8 billion.
TL;DR
- D.C. Auditor's office released an independent forecast.
- Projected revenue has decreased from $12.2 billion to $11.8 billion.
- Factors contributing to the decline include job losses, economic uncertainty, congressional spending cuts, and plunging commercial real estate values.