For general discussion and debate. Possible talking point: state budgets in crisis!
With state revenues in a free fall and the economy choked by the worst recession in 60 years, governors and legislatures are approving program cuts, layoffs and, to a smaller degree, tax increases that were previously unthinkable. All but four states must have new budgets in place less than two weeks from now — by July 1, the start of their fiscal year. But most are already predicting shortfalls as tax collections shrink, unemployment rises and the stock market remains in turmoil. “These are some of the worst numbers we have ever seen,” said Scott D. Pattison, executive director of the National Association of State Budget Officers.
Is the government tax and overspend Ponzi scheme unraveling? What's the solution if any? Maybe more importantly, in keeping with the media meme of the decade, how do we blame all these states' problems on George W. Bush?
