Has it come to the 4th of July being cancelled?
It was spending $70,000 on its annual celebration, which seems like a lot to blow, so to speak, even if it did bring in a lot of tourists since it was the biggest one in the area. But it seems like a smart decision if you consider the other things the town could do with that amount in its budget. Most of the savings will probably go to paying for higher gas bills, of course. And wouldn't local residents rather have their cops have full tanks rather than watch a half-hour light show?
On the other hand, over in California, the governor (that's Governor Arnold Schwarzenegger) asked towns to cancel fireworks displays this year because of the threat of wildfires. Folsom is one of the few to take heed.