online.wsj.com — Remember how $200 billion in federal stimulus cash was supposed to save the states from fiscal calamity? Well, hold on to your paychecks, because a big story of 2010 will be how all that free money has set the states up for an even bigger mess this year and into the future.The combined deficits of the states for 2010 and 2011 could hit $260 billion
Jan 3, 2010 View in Crawl 4
xophermvJan 3, 2010
Gas is $3 a gallon. A year ago it was $1.65. 18 months ago it was $4.10. The price of gas is independent of inflation. The price is dependent on the supply and demand of oil, which is controlled by the OPEC oil cartel.We are at zero inflation.
h8f8kesJan 4, 2010
@biotch I will concede that the share of aggregate wealth has been declining since 1967, except during the recession under Jimmy Carter. Good times under that president let me tell ya /s.<a class="user" href="http://www.americanthinker.com/2008/02/americas_three_worst_president.html" rel="nofollow">http://www.americanthinker.com/2008/02/americas_th ...</a>As far as inflation or cost of living over the last 40 years, (bear in mind that while some things have gotten cheaper like food) mandatory minimum wage increases drive prices up, as do interest rates:<a class="user" href="http://www.inflationdata.com/inflation/images/charts/Articles/Decade_inflation_chart.htm" rel="nofollow">http://www.inflationdata.com/inflation/images/char ...</a><a class="user" href="http://oregonstate.edu/instruct/anth484/minwage.html" rel="nofollow">http://oregonstate.edu/instruct/anth484/minwage.ht ...</a><a class="user" href="http://research.stlouisfed.org/fred2/data/PRIME.txt" rel="nofollow">http://research.stlouisfed.org/fred2/data/PRIME.tx ...</a>You should also note that the quality of life (even while earnings are down) has improved for all Americans. Not many of us do not have cell phones, cable television or a full belly here in the U.S - especially the poor. So while the data you provided is an indicator, it does not provide a complete picture.
korvan504521Jan 4, 2010
Which always blew my mind. The democrats spent eight years demonizing him and then did exactly what he did, only on a grander scale.
mrteleprompterJan 4, 2010
A lot of the money had lots of strings attached, forcing the states to spend it in certain ways.
rothbardosaurusJan 4, 2010
The Austrians told you so.If anyone wants to wake up to economics so that crap like this stops being a surprise, check out <a class="user" href="http://www.mises.org" rel="nofollow">http://www.mises.org</a>
uslegalvisaJan 4, 2010
Every decision lies along a personal set of believes, whether it is a religious or economic or some other consideration. Abortions are no different then blood or organ transfusion. Rational explanations generally do not work in the realm of believes.
zacharytelschowJan 4, 2010
Everyone has a bias or point of view, but the only time it seems to be a problem for digg is when that point of view is conservative. Putting aside the irrelevant, is the article right or not?
uslegalvisaJan 4, 2010
By my rationale big systems do not operate efficiently period due to system constraints, human factors, external factors, etc. Society is a big system with multiple variables that must be met to keep society cohesive. Yes, one can live in caves and have a flag raised above it. However, when push comes to shove one may want electricity, hot water, safety, mail delivered or other minor or major conveniences. Suddenly, the government starts to grow to accommodate all these little needs. Appetite comes with eating. Besides, no business is 100% efficient. Private big corporations are lucky to run at 60% efficiency. Government is probably on the lower end of the curve, however some service work like a charm, some fail. I hope health-care portion of the government business portfolio will be close to USPS (postal service) then USCIS (immigration service).
jhodappFeb 9, 2010
I'm not sure where you took Macro econ, but the one I took never said such a thing. Also, the economic professors that put on the podcast Econtalk say quite the opposite. They thought Keynesian economics was dead but Bush and Obama brought it back.
jhodappFeb 9, 2010
mrteleprompter: I would also add a perverted and fake demand.