"Might have been my bad assumption. Hope I didn't offend too much."
none taken.
I think the stimulus bill was well intended but won't really solve a problem, only delay it. Like the cash for clunkers, or the 8k tax credit for first time home buyers it's spending a future tax receipt (in theory) while creating more debt.
I expect another Stimulus Bill sometime in the 1st qtr. 2010 to further fund state budget shortfalls.
"The degree to which they need to make a tough choice will depend on whether the economy at the time has legs to support the programs that they are currently paying for, without bankrupting an individual state."
Perhaps we will "bankrupt" the country instead? Or at the very least set up a scenario where rising interest rates will increase our debt service cost to the point where it is a significant portion of the federal budget?
I would choose observant over cynical. In Washington the more things change, the more they remain the same.
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