In my morning web-about, I just came across this:

Why we need to let states go
broke<http://www.nypost.com/p/news/opinion/opedcolumnists/why_we_need_to_let_states_go_broke_kAFil8adYcXsyl20ygFdLL>

Here's the first paragraph:

Federal Band-Aids won't cover the fiscal problems of such states as New
York, California, Michigan and Connecticut forever. State bankruptcy and
fundamental restructuring of state and local finance -- and labor relations
-- is at hand.


J

-

And I sincerely believe, with you, that banking establishments are more
dangerous than standing armies; and that the principle of spending money to
be paid by posterity, under the name of funding, is but swindling futurity
on a large scale. - Thomas Jefferson


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