"I'm not sure how they will adjust their projected spending and tax policies. It's unlikely that state and local agencies will be able to raise the kind of monies needed to fund some of the long term spending plans on roads, schools, hospitals and prisons under these circumstances."
i'm not sure what you mean. its not state and local agencies, its federal. and at the federal level, you do this: you scream "deflation" and all the idiots want to buy treasuries at a 0% yield. where did i see this before? hmm. oh yeah, last week's newspapers.
News 
Market Data 
Discover 
