Yesterday I posted that we're in a recession.
The States are getting hit too.
The Washington Post reports that a recession is hitting the states.
Residents of affected states should be concerned since the states will likely make demands of already strapped citizens to bail them out.
Many states have balanced budget amendments, making deficits illegal. The money will come from either losses in services, increased taxes, or both.
This is what happens when prosperity is financed with credit...at some point the bill comes due and the borrowing stops.
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