Behind the scenes on the Goldman Sachs report

Eventually, Obama could also come under pressure from state officials and the financial industry to provide emergency aid to states and municipalities if they can't pay off their debts. Wash Post

Goldman Sachs issued a report on lower GDP due to lower state and local spending. The report was deliberately ingenious for a reason. Big finance wants more insurance from the Great Exogenous for its failure on due diligence. Public sector advocates picked the report up and ran with it, it appeared in hundreds of local newspaper op eds.

Its the game, finance uses our dependency on the government economy to force more Congressional bailouts of finance. Many economists are both part of the plot and the target of the plot. But the intention was to transfer taxpayer money to big finance. The plot is uncovered. The way to stop these delusions is to raise the progressive rates at the federal level.