(Washington Examiner) — The D.C. Council has showed little appetite for taking politically unpopular moves in an election year to address the city’s shrinking reserves, leading lawmakers to worry that the city’s high bond ratings might be in jeopardy.
The city’s reserves have dropped from $1.5 billion to about $822 million in three years, and are on pace to dip to $600 million by the end of fiscal 2012 under Mayor Adrian Fenty’s proposed budget, according to council staff.
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