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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Ramsey Su who wrote (24941)1/19/2005 11:41:37 AM
From: russwinter  Read Replies (1) of 110194
 
More junk bond borrowing "opportunities" to go along with GM. A Federal budget freeze ought to up the ante even more.

stateline.org

That old familiar refrain of the artificial economy : expediency and eat your young:

The problem for many states is that they’ve already dipped into reserve funds and tapped tobacco settlement money to fill previous budget gaps. Unlike the federal government, all states except Vermont require balanced budgets. “A lot of state didn’t make structural changes, but relied on one-time fixes,” said Jason Mercier, budget analyst for the Evergreen Freedom Foundation in Olympia, Wash., a group that advocates for limited government.
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