States going deeper into debt - Jul. 30, 2010
NEW YORK (CNNMoney.com) -- The states are broke, and like many consumers, they're borrowing big time to get out of their fiscal binds.
The amount of debt that states are carrying spiked 10.3% last year to $460 billion, according to Moody's Investors Service. The debt is paid for through taxes and fees, making residents ultimately responsible.
Honestly, it amazes me that this situation is getting so little attention. While the press covers Chelsea Clinton's wedding plans, half the states are becoming insolvent.