[Roccland]

State Treasurer Timothy P. Cahill this week approached the US Treasury and the Federal Reserve Bank of Boston about lending Massachusetts money under the same extraordinary terms the government is giving banks and Wall Street firms during this financial crisis.

[Fishman]

First California, then Massachsetts, those BLUE states are going down fast. Will the savior Obama get in office quick enough to send money their way?
Will Palin supporters change their chant from "drill baby drill" to "let'em burn, let'em burn"?
The adventure continues ....

[steam_cannon]

Yes! Front row seats!

[Snowrunner]

$this->bbcode_second_pass_quote('Fishman', 'F')irst California, then Massachsetts, those BLUE states are going down fast. Will the savior Obama get in office quick enough to send money their way?
Will Palin supporters change their chant from "drill baby drill" to "let'em burn, let'em burn"?
The adventure continues ....

[Cashmere]

It's a nice valuation of my financial belief structure that the Liberal bastions of Cali and Mass are going to slam the ground first.

The hilarious part is that there doesn't seem to be any discussion of radically cutting spending. It's like the liberal morons who run those states can't figure out what the problem is:

"Well, we've raised taxes, we've increased spending, there're literally hundreds of hand out programs in operation. Dammit Bob, we've done all we can to make budget!"

[jbrovont]

I think I finally figured out what the problem is.

$this->bbcode_second_pass_quote('Fishman', 'F')irst California, then Massachsetts, those BLUE states are going down fast. Will the savior Obama get in office quick enough to send money their way?
Will Palin supporters change their chant from "drill baby drill" to "let'em burn, let'em burn"?
The adventure continues ....

[letitburn84]

$this->bbcode_second_pass_quote('steam_cannon', 'Y')es! Front row seats!

[Zardoz]

$this->bbcode_second_pass_quote('steam_cannon', 'Y')es! Front row seats!

[Tyler_JC]

It was bound to happen.

This state spends way too much money on dumb, useless projects while creating a tax/regulation environment that is very anti-business.

Governor Deval Patrick (or as I like to call him, Spend-It-All-Deval) has increased the size of the state government, increased payrolls, increased spending, and drained the emergency fund in a time when tax revenues are falling.

The result is, not surprisingly, a huge deficit.

That's what you get when you elect a fringe liberal governor in a state with an 80%+ Democratic legislature.

Governor Romney was unpopular because he cut spending and raised fees. However, during his term, we were able to stash away some money in a rainy day fund...knowing that good times would not last forever. Now, before the crisis has even become fully realized, the new governor has already drained hundreds of millions of dollars out of the account.

What happens when the money runs out and tax revenues are still falling?

[steam_cannon]

$this->bbcode_second_pass_quote('Zardoz', '')$this->bbcode_second_pass_quote('steam_cannon', 'Y')es! Front row seats!

[cube]

$this->bbcode_second_pass_quote('Snowrunner', '.')..
It remains to be seen if this is a blue state only thing. From my observation Reds tend to be very good in sticking their fingers into their airs, close their eyes and sing very loudly "nananananana".

Indeed, it's Popcorn time.

[jbrovont]

So... conservative deregulatory monetary policy leads to banks making loans they know are a bad idea because GSEs will buy bad loans, which leads to the bankruptcy of the United States federal government, which leads to the unprecidented sale of US T-bills, totally saturating the market with treasury bonds so that the market for state bonds get's saturated before states can auction their bonds, which leads to states having a cash crunch and causing state governments to go bankrupt, and that's a liberal problem. Huh. No kidding. Way to think it through.

$this->bbcode_second_pass_quote('Cashmere', 'I')t's a nice valuation of my financial belief structure that the Liberal bastions of Cali and Mass are going to slam the ground first.

The hilarious part is that there doesn't seem to be any discussion of radically cutting spending. It's like the liberal morons who run those states can't figure out what the problem is:

"Well, we've raised taxes, we've increased spending, there're literally hundreds of hand out programs in operation. Dammit Bob, we've done all we can to make budget!"