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CT is the perfect example of how this should work. We have to have a balanced budget, we cannot simply run up the Visa.
So the Governor has a $1.5b shortfall to make up over the next two years to balance it. Since the state unions rejected his package to avoid layoffs...well the pink slips are streaming out of Hartford, and social programs are getting chopped.
Why can't the Fed's do something so simple?
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