Sunday, July 31, 2011
And with all the fuss and feathers coming out of Washington
Nobody is paying any attention to how much this will further degrade the economic situations of the various states. So much of what they still can do depends on funding from the federal government.
The federal piggy-bank that helps them pay for health care, jobless benefits, road building and schools could run out of cash.And afterwards, the "shared sacrifice" will cut deeply into the funding and thanks to the Republican/Teabaggers will not be replaced. One way or another, it will only get worse.
Kansas Gov. Sam Brownback is warning that his state might not be able to fully cover potential shortfalls, and jittery California cushioned its finances last week by borrowing $5.4 billion from private investors. Massachusetts is preparing to replace $850 million in U.S. payments that could be derailed in August, while Oregon plans to free up a cache of money if Washington stops sending checks.
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