States Start The Two-Minute Drill For Passing Budgets

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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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