it's a bid deal to the extent that its extent boosts risk premiums, making the states' financial situations even worse.
On Sun, May 15, 2011 at 5:51 PM, Max Sawicky <[email protected]> wrote: > US State govt debt is no big deal. The real issue is the revenue > crash and employment drop from the recession. Debt service > has first dibs on revenue, often by law or even state constitution, > otherwise for all practical purposes, and is not a big share of > budgets. The problem is the recession occasioning attacks on > services and pensions, combined with inadequate Federal > anti-recession aid. -- 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
