States Turning to Last Resorts in Budget Crisis - NYTimes.com: "With state revenues in a free fall and the economy choked by the worst recession in 60 years, governors and legislatures are approving program cuts, layoffs and, to a smaller degree, tax increases that were previously unthinkable.
All but four states must have new budgets in place less than two weeks from now — by July 1, the start of their fiscal year. But most are already predicting shortfalls as tax collections shrink, unemployment rises and the stock market remains in turmoil."
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I wonder how support for President Obama's expensive federal policies will fare as people get hit with these cuts and tax increases by their state and local governments.
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