Dan La Botz writes that >With lowered corporate profits and declining incomes and sales, Federal, state and local government would not have the revenues to pay for those social programs and would also be unable to pay salaries and wages of public employees. In fact this has already begun, as the New York Times reports, "About half of the state legislatures are scrambling to plug gaps in their budgets, shot through by rapid declines in corporate and sales tax revenue. . . ."<
this is true at the state and local level, but the federal government does not have to balance its budget. Most economists are against balancing the federal budget when the economy's in recession. from: http://www.monthlyreview.org/mrzine/labotz170308.html -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
