All Things Considered,

With its new fiscal year set to begin on July 1, the affluent suburb of Summit, N.J., is one of many places across the country that’s been forced to make tough decisions to balance its budget. As a result of a $700,000 cut in state aid, the city will raise property taxes and decrease the size of the police force, angering many local residents. A large portion of Summit’s residents work in finance and real estate, so the economic downturn has hit the city particularly hard. LINK