You mean California, Laura

Says Laura:

The lessons of the global recession a decade ago confirm these alarming predictions. Between 2008 and 2014, state governments suffered a budget hit of about $600 billion, but received only $150 billion in federal aid. State governments therefore had to draw down their accumulated reserves (rainy-day funds), increase taxes, and cut “discretionary” spending.


You are a fake, Laura Tyson, the chart shows it all. You try to describe a California problem in terms of the national economy. This is a fraud, you know it, and no one really listens to these frauds anymore.

As further proof, note that Laura does not reference the revenue sharing agreement in the 1970s, failed to mention it for one simply reason, she is fraudulently proposing a bailout for California. Next ting we know we will Krugman dragging out the 50 little Hoovers argument.

California faces $54B budget deficit

The Berkeley economists are required to cover this problem up with delusion. It is in their contract.

This is a 'been there, done that' with the flat earth crowd, their old arguments have been debunked.