Six Month Update

We are six months into DeKalb’s fiscal year. This is a half way marker for the City to review budget usage thus far and predict how much it will be over or under at the end of the fiscal year in July. Gazing into our crystal ball, the outlook for the end of the year is not ideal with an estimated shortage of $2.2 million.

Goldman Sachs has published “Ten for 20TEN,” which provides predictions about the U.S. economy into 2011.
• Unemployment rate should continue to drift higher, peaking at about 10 ¾% in 2011.
• Oil prices will go to $90/barrel in 2010 and to $110/barrel in 2011.
• The U.S dollar will continue to weaken until 2011.

While the current economic climate seems insurmountable, we will get through it! Decisions by the City Council will have to be made that will not be welcomed by all. Several options will be considered and implemented for the better of the City. Thomas Paine said that “these are the times that try men’s souls.” We will continue to thrive now and into the future. But the decisions we make will be to preserve us for future generations.

Do not fear, concerned DeKalb citizens. I’m certainly not. I am looking at the glass as half full. To quote Winston Churchill, “A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.” This is a time for optimism and positive attitude to persevere during these difficult financial times.

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