Congress has decided to cut off additional aid to the States. It is not a coincidence that those living Inside the Beltway voted to provide additional funding for our Afghanistan Adventure but failed to fund State governments. These cuts will have severe consequences. In the coming months, hundreds of thousands of state workers will be laid off or have their wages cut down to basically nothing. Crucial services will be reduced. I first described these fiscal woes in The States Of The Union.
This CBS News video provides a brief overview of the coming calamity. There will be an advertisement before the video begins.
Pause the video after it ends to prevent continuous playing
I like the guy who said "If the states fire 900,000 thousand workers we will have a double-dip recession". Since the so called double-dip (more of the first one really) is already upon us what he should have said was that another million unemployed should be enough to push us off a cliff into a full blown depression.
Posted by: everson | 07/17/2010 at 03:37 PM