State Governor's what $1Trillion....

www.reuters.com...

More insanity, more bye bye USD..........I can't belive Arnold didn't get invited to the party.....not Dem enough for them.......

Did you notice that 43 states are in the hole?

Gov. David Paterson of New York said 43 states now have budget deficits totaling some $100 billion as tax revenues plunge.

Here's the same story but says 41 states are in the hole: www.foxnews.com...

They said that level of federal aid is needed to deal with unprecedented state budget shortfalls in 41 states and Washington, D.C., that the Center on Budget and Policy Priorities pegged at $42 billion for the current fiscal year alone.

The story closes with this tidbit:

A forecast from Global Insight shows that the economy hasn't hit bottom yet.

National economic growth is now expected to drop 1.8 percent this year, rather than increase 1 percent. The U.S. labor market is expected to lose 3.7 million jobs during the downturn, with unemployment reaching 8.7 percent in the first half of 2010, it said.

I seem to recall a prediction where the UK would be in severe recession with a 1.1 percent decline, and the US would not be so bad off with a 0.9 percent decline. A decline of 1.8 percent is much, much bigger.

[edit on 3-1-2009 by Dbriefed]

Thanks for the additional info.

Being from NYS, I know Patterson is cutting (slowing growth) of spending, but increasing Welfare by 30% over I thnk 5 yrs.

These clowns need to cut spending by 25%. Otherwise, you'll see more
mass exodus out of this state and other Blue states.

Myretired Parents moved out of here (winters) to SC and never regretted it.
If taxes get worse they are gone full time and I may be right behind them if My wife and I loose our Jobs.

[edit on 3-1-2009 by Pinktip]