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Overnight Open Thread

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Killgore Trout1/25/2010 10:10:39 am PST

re: #767 lawhawk

But the one thing we have to keep in mind with the stimulus/porkfest is that it’s turned out to be a 1-year gap filler for state budgets across the country. It meant that states could avoid the tough decisions for at least one year. The piper is to be paid this year - and the list of states with multibillion dollar deficits continues to grow (and the deficits themselves are huge). Without additional federal funds (which aren’t coming), those states are finally going to have to make massive cuts, and it’s going to be painful to watch, especially for those who said - I told you so (like I have been saying).


Remember that only a small portion of stimulus money has already been spent. It will be another year or two before governments around the world start to cut back spending on economic stimulus.