Statehouse Fiscal Crises

From The Economist, and making me happy to keep harping on Republican neo-Hooverism. When one bad ideology lets you down, dump it . . . for one that's even worse.

The article on the crisis of the states is pretty good. But the chart tells you all you need to know about how Arnold et al are bringing a depression to a state near you. The article follows most others in ignoring the artificial, deliberate, politically calculated nature of the crisis. For that you have to read this piece by Robert Kuttner.