The clock is ticking for ten states who have yet to pass their fiscal budgets by a midnight deadline tonight. While the federal government has the luxury of printing its way through temporary fiscal messes and creating a greater one down the road, states have to do it using more conventional methods (with some notable exceptions like Massachussetts). As the stimulus program doles out $3.4 million for a turtle crossing in northern Florida, the Golden State is about ready to hand out Governator IOUs to state employees. Assuming no budget is reached in the next 12+ hours, three of the 10 states (AZ, IN, and MS) may have to shut down some of their offices.
There is little doubt each of the 10 states in question completely mismanaged their funds in prior years. However, in a bailout nation that can afford to allocate stimulus money to 10,000 dead people, letting one out of every five states potentially fall flat on their face seems insincere even by Washington standards.
Ten States Race to Finish Budgets [WSJ]
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Way to jack the image from drudgereport!
I am a United States legislator.
What is “fiscal responsibility”?
Greg, your anus is showing. Please cover it up as it is lunch time and some people find your anus offensive.
California sucks. I hope it falls into the ocean.
i believe the french call it “rochambeau”
@4 Fuck you. I hope you fall into Greg’s anus.
California is not governable. The referendum process undermines any leadership in the state.
Roginski back on CNBC…just when i thought (hoped) she was dead.
@6 – Can I get an IOU for that?
Why don’t they issue those IOU’s to legislators in lieu of paychecks until they actually pass a budget?
PS – 8 is a shithead
@6 – Can I get an IOU for that?
@ 10 & 12 – Greg owes you. Check with him.
killin it with the sports references
@9. doesn’t she bear a striking resemblance to kato kaelin? kind of creeps me out a little bit…
The IOUs are going to local governments, venders, and for travel expenses. Warrants for payroll were ruled illegal in the 1990s. A big part of the state’s plan is to convince banks to honor the IOUs. Yeah, that’ll work.
BA-BA-BA-BA-BA-BLANUS!
eigtht largest economy writing IOU’s, I don;t sea a problem with that.
In case you didn;t here the economy is no longer in recession, Q4 numbers will prove that.
SPODE
@8 Right, the problem is those conservative states with such high unemployment.
1. Michigan
2. Oregon
3. Rhode Island
4. South Carolina
5. California
@19
lay off the crystal meth spode
@8: Texas joined the union in the 19th century, redo your analysis.
21- but its true, i red it on the internet. You just gots to believe.
You guys are missing all the green shoots!
Why is Greg’s anus such a hot topic for discussion? Is it because it is purportedly so huge?
Put the fuckers in receivership if they can’t pass a budget. Take away all their votes in the Senate until they get the fucker passed. This is not rocket science. These porkers are just lining up behind Cap’N Morgan for the TARP funding.
20 I admit, poor choice of words. I meant hardon in the sense that they favor, not disfavor, conservative states.
Greg, you bored us to tears. Please stop.
@8, “these states are almost without exception the jobless shitholes of America”
Texas is a pretty big exception, son
29 Alaska is an even bigger exception. But it has more oil. The two in fact deserve each other.
Here is TGFD’s editorial…
Delaware is Fucked. State budget is due at midnight tonite and must be balanced.
Consider (lifted from media sources):
1) 2nd smallest state behind Rhode Island.
2) 2nd smallest population behind Wyoming.
3) Highest budget deficit in US @ 26.7%.
4) More state employees per capita than any other state.
5) Spends more per capita than any other state @ $9.7k.
6) Spends more per household than any other state @ $31k.
7) Major core industry lost recently–two auto plants GM & Chrysler (jobs gone permanently).
8) Major core industries diminished recently–Chemicals (duPont), Credit Card Banks (all), Pharmacueticals (Astra Zeneca), all with many lost jobs.
9) No replacement industry on horizon.
What is Delaware’s solution tonite to the budget shortfall? You guessed it…Raise taxes on everything: income, corp franchise, gross receipts, gambling, and a new tax on lottery winnings and a new estate tax too.
Where does the state cut anything? A 2% pay cut for state employees and a promise to reduce state employment rolls by 600/yr through attrition, both starting next January.
Delaware is so fucked.
BTW, Delaware’s public education system is among the worst in the nation, in spite of state spending on the Dept of Education that is among the very highest. No wonder there are so many private schools here.
TGFD says fuck those assholes down in Dover. Useless bastards.
The Guy from Delaware
(Somewhat Embarrassed)
TGFD here again.
I forgot to add in my #31…
10) Delaware has 157K people on Medicaid too; that’s one out of every five.
Nothing to be proud of, I’m sure.
Only 4-1/2 hours left until we have a balanced budget in Delaware.
The Guy from Delaware