States grew to the total capicity of the real estate bubble’s debt, tax and spending. That was a mistake. Now they have to cut back all their “progress” (growth and expansion of state power) that was not progress to begin with. The Federal government is going to be facing the same crisis soon. Obama and the socialists have gone way too far and severe cutting of whole Federal operations is going to have to come about.
severe cutting of whole Federal operations is going to have to come about.