"California in 1994 was in a severe recession. After the earthquake, the federal and state governments pumped in huge amounts of money for rebuilding - it was a huge fiscal stimulus." Klinkner said. "We'll see some of that in NewYork City. Billions of dollars will flow into New York, federal, state, and private money. There will be a spillover effect to upstate: Work for contractors, tax revenue, businesses will be more flush. They'll hire more, and these workers will spend more money."
Posted September 17, 2001
