Free Republic

As the saying goes, "There is no free lunch." Such is the case with the massive stimulus bill signed into law by President Obama last week. Because while the bill gives states some short term money, it commits them to long term payments that may bankrupt the state governments in the long term. Here is an example of the entitlements that will now be burdening state treasuries: Consider South Carolina. Its annual budget is roughly $7 billion and the stimulus will send about $2.8 billion to the state over two years. But to spend the hundreds of millions of dollars...