http://admin.returnofthegreatdepression.com/2010/03/government-debt-at-all-levels/ The Return Of The Great Depression Thu, 25 Mar 2010 02:04:12 +0000 http://wordpress.org/?v=2.9.1 hourly 1 http://admin.returnofthegreatdepression.com/2010/03/government-debt-at-all-levels/comment-page-1/#comment-16301 Carlton Smith Tue, 16 Mar 2010 15:53:34 +0000 http://admin.returnofthegreatdepression.com/?p=13341#comment-16301 Thanks, Matt. It is interesting to see how the states and municipalities are handling the situation. There is quite a bit of diversity out there in how they are going about it. Maryland seems to still be playing "extend and pretend" and so is Indiana. Michigan has been struggling for about a decade already and I heard this morning about some bigger cuts the state is making (though, I haven't looked for any corroborating reports, so I can't say for certain that it's happening). Thanks, Matt. It is interesting to see how the states and municipalities are handling the situation. There is quite a bit of diversity out there in how they are going about it. Maryland seems to still be playing “extend and pretend” and so is Indiana. Michigan has been struggling for about a decade already and I heard this morning about some bigger cuts the state is making (though, I haven’t looked for any corroborating reports, so I can’t say for certain that it’s happening).

]]> http://admin.returnofthegreatdepression.com/2010/03/government-debt-at-all-levels/comment-page-1/#comment-16161 Matt R Mon, 15 Mar 2010 18:02:54 +0000 http://admin.returnofthegreatdepression.com/?p=13341#comment-16161 Fantastic presentation, Carlton! I'm thoroughly enjoying the RGD blog. That's the first I've seen an illustration of state/municipal debt as a function of GSP; I think you've touched on an extremely critical point in the conversation. States and municipalities are mini-Greeces; they must choose austerity or beg Federal handouts/bailouts to remain solvent. Voters (e.g. NJ) are choosing austerity. Fantastic presentation, Carlton! I’m thoroughly enjoying the RGD blog. That’s the first I’ve seen an illustration of state/municipal debt as a function of GSP; I think you’ve touched on an extremely critical point in the conversation. States and municipalities are mini-Greeces; they must choose austerity or beg Federal handouts/bailouts to remain solvent. Voters (e.g. NJ) are choosing austerity.

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