Schwarzenegger urges aid to responsible state governments

I fully expect california to be the first state to file for bankruptcy. the last filing with be the the aggregate of all the states aka UNCLE SAM

Because they have been too busy spending on a bunch of crap just like the average American. Instead of invesing in ifrastructure that will stimulate growth, they have been spending on sports arenas strip malls and bars. Things to cater to the spoiled people.

Sooner or later states under pressure from their denizens will stop acting nicely. With high unemployment and falling populations and bugets. States will try almost anything to prevent riots and insolvency.

So do states have the right to enact “begger thy neighbor” policies? If so then where is the line drawn? Forming exclusive trade compacts with other states as a means to survive. Desolveing debt and commitments to and from the federal government. Preventing non-natives from residents.

If Obama is the second coming of Lincoln then maybe its time for a second Civil War. The war need not be bloody but most likely it will be, in order to uphold and maintain the Union.
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NEW YORK (MarketWatch) — California Gov. Arnold Schwarzenegger said Sunday that those state governments which show financial responsibility should be rewarded with aid from the U.S. federal government. Schwarzenegger, who has previously called for federal aid to California’s government as it faces a major financial shortfall, said on ABC’s “This Week” that Washington should come to the rescue so long as “we can prove that we have our fiscal house in order.” He said the same test of fiscal viability should be used to decide when and if U.S. automakers receive any government assistance. Schwarzenegger also said the economy won’t hit bottom for some time to come and that governments should plan for a long contraction. “There is no sign that there will be an upswing next year… things will get worse,” he said.

http://www.marketwatch.com/news/story/Schwarzenegger-urges-aid-responsible-state/story.aspx?guid=%7BC91B8878%2D88A5%2D47D7%2DA661%2D82514079718C%7D

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