They wrote this article as if it was bad news that government is being starved down...
Should read “State governments overspending beyond their capacity to borrow, look to the federal govt for help”..
Not only that, the article is written as if government is being starved. Indiana, the writer says is, "among the worst cases."
How bad is "among the worst?
Revenues are 8% under projections.
Mississippi collections are down 10%.
Those figures are not starvation diets. They are the amount state budgets across the country should be cut just to start trimming the deadwood. Or, if government workers were treated as the rest of us are by this economy, what they should expect to take as a paycut.
It is bad news for those who depend on government for their standard of living.
Generally, that's a good thing. The problem is the federal government will grow to make up for the state's slack, thus centralizing even more power and control.
The only cure for heroin addiction is to stop taking the heroin. The foul fruit will wither on the vine with no government money.
I see it as a healing crisis, with the possible hope of return to health.