Charleston County must pay Highway I-526 funding, Layoffs, Service cutbacks loom

Charleston County was told today it has 60 days to pay back the $11.6 million it accepted to build the Interstate 526 expansion or the State Infrastructure Bank will take legal action.

Council Chairman Teddie Pryor has said that up to 200 staff members could be laid off and services cut to make up for a $10 million shortfall in its new budget because it decided not to build the expansion.

Police, emergency medical and other vital services will not be axed, but libraries, drainage-ditch cleaning and mosquito control could suffer, Pryor said.

Read it all from the front page of the local paper.

Posted in * Economics, Politics, * South Carolina, City Government, Consumer/consumer spending, Corporations/Corporate Life, Economy, Politics in General, Taxes, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--