Tuesday, June 30, 2009
States brace for shutdowns
That the Obama Administration sits by and allows this to happen is amazing. Who knows how many more jobs will be lost as states grapple with budget problems. Only the Federal Government can provide the funds as states are functionally like you and me: they need the cash before they can spend and pay salaries.
Obama's political strategist, David Axelrod, may have executed the most successful presidential campaign in history in getting his guy elected, however, his advice now (shun further stimulus, embrace fiscal responsibility over growth and employment) are certain to make Obama a one-term president if it keeps up like this.
There is a fiscal "tsunami" developing at the state level and Obama and Axelrod apparently feel as if the best course of action is to "ride it out."
Too bad for the economy. Too bad for us!!