Free Republic

Let's say your situation is this: you are $38 B to $106 B in debt, depending on who does the acounting . Your current budget says you will spend about $12 B more this year than you will take in. What do you do? If you are an Illinois politician, you create a new capital budget of $31 B. How will you pay for it, since you're already $12 B in the hole? See here : http://www.thetelegraph.com/news/praised-29068-governor-bill.html "Illinois will pay for the public works program by selling bonds - in effect, borrowing money and repaying it over 20 or 30...

WASHINGTON—The one excuse President-elect Barack Obama's nominees shouldn't be using if they encounter tax and nanny problems is that they didn't realize there would be a problem. Since 1993, unpaid taxes and immigration violations, usually related to household help, have sunk more than one presidential nominee with the whole world watching. But a few have survived to take office anyway.