The fiscal outlook for many states is unsustainable. This eventually may influence the politics of the national budget, both directly (through battles over federal measures to help troubled states) and indirectly (through voters’ attitudes toward government).Jerry Brown and the unsustainable state budget, one in the same. There is simply not enough middle class wealth left to cover the costs of Jerry Brown and his Jim Crow pals in Sacramento.
It may take a decade or more for this dynamic to take hold, but as leaders of both parties bargain over the debt ceiling and assess their strategies for deficit talks during Obama’s second term, they should also think about the path of state finances. The prospects should unnerve Democrats, in particular: The 26 states that Obama carried in November tended overwhelmingly to have lower credit ratings than the 24 where he lost. Bloomberg
Saturday, January 12, 2013
Jerry Brown is not alone
Posted by Matt Young at 11:06 AM