It was just a few days ago that a couple million people descended on the city to celebrate the Phillies World Series championship.

The region was on Cloud 9. We painted the town red.

Today Mayor Michael Nutter will again paint the town red. Only this time he’ll be using red ink.

After a giddy month of heart-pumping excitement supplied by the Phillies, the mood will turn decidedly more somber today.

The economic meltdown will arrive in Philadelphia. With a thud. Nutter is expected to announce a series of budgets cuts as the city faces its most serious fiscal crisis since then-Mayor Ed Rendell threatened to declare bankruptcy.

It’s not going to be pretty. Nutter, looking to close a $1 billion deficit gap, is expected to swing the ax on city jobs and services. How bad will it be? The city will close the book on as many as 11 of its 54 library branches; dozens of city pools will be shut down; side streets will not be plowed unless we get a snow storm of at least a foot. There will be layoffs, cuts at firehouses, hours and programs at rec centers will be reduced, collection of bulk trash items will be curtailed, and the expected cuts in some taxes will have to be delayed.

The city is not alone. Towns and school districts across the region are looking at some fairly bleak budget numbers, as is the state.

Nutter is expected to announce his planned cuts during a noon press conference. We’ll keep you posted, and also make checks around the county to see how officials here are dealing with the economic tailspin.