In fact, the state governors are begging with hat in hand for more stimulus help from Uncle Sam, because states are expected to have $300 billion in budget shortfalls between the 2009 and 2012, despite their slashed spending and tax hikes.
Oddly enough, China, Britain, and Saudi Arabia are not lining up to buy state and municipal long-term bonds at 3% interest. So that leaves only one source of money to pay America's teachers, police, firemen and civil servants, and improve crumbling infrastructure.
By Lis Sidoti
July 10, 2010 | Huffington Post
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