CFO Gandhi Says D.C. Is Facing 'Economic Tsunami' in Fiscal '09

February 2009
Bond Buyer;2/26/2009, Vol. 367 Issue 33070, p5
Trade Publication
The article reports that Washington D.C. is being hit by economic distress, according to chief financial officer Natwar Gandhi. The district is facing another $136 million revenue gap for the fiscal 2009 budget, bringing to nearly $400 million the total drop in revenues since June 2008. The district has already made cuts and used surplus dollars to close previous gaps for the current fiscal year, but the estimates for fiscal 2010 are much worse than those released in December 2008.


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