What Happens When Government Revenues Disappear???

Michael Booth of the Denver Post gives a prototypical example of what can happen to towns and communities when government revenues (you know, the money they collect from taxes) are low and municipal governments are forced to cut services.  I found this on Thomas Levenson's blog "The Inverse Square" blog.  Thomas does a much better job of breaking down the wider implications of this than I could (darn him anyway, he's a better writer than your goofball blogger here).  So you should examine Thomas Levenson's  three posts (yes ALL three are worth a gander) here, here, and here.  Thomas even throws a couple jabs at Megan McArdle which makes the posts even more fun to read.