Catania Conducts Own Budget Analysis

We told you today about council member David Catania's decision to seek a postponement of Healthy DC, the health insurance plan for uninsured residents that he created and convinced colleagues to adopt in the spring. Catania said the city must cut spending to create cash reserves because he's convinced greater revenue shortfalls are in store for the District beyond the $131 million gap CFO Natwar Gandhi announced last month.

Today, Catania's office released its analysis as to why the revenue crunch will likely be worse than Gandhi has said. He cites unemployment data, stock market numbers, and declines in income and home sales in the memo, which you can read here.