US States fall into contraction one after the other like dominoes brought down by excessive debt loads.
Bob Herbert from the New York Times writes:
"A story that is not getting nearly enough attention is the ruinous fiscal meltdown occurring in state after state, all across the country. Taxes are being raised. Draconian cuts in services are being made. Public employees are being fired. The tissue-thin national economic recovery is being undermined. And in many cases, the most vulnerable populations — the sick, the elderly, the young and the poor — are getting badly hurt..."
Read more about how States are forced to cut spending.
Comment: Question - "Stimulus where is thy sting?"
Backgrounder: Antony Mueller: The Stimulus Scam
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