I wanted to briefly comment on this recent (July 17) Wall Street Journal article that mentions how Illinois and California are working to "balance" their budgets:
http://online.wsj.com/article/SB124776520979752661.html
The article brings to mind a term that I have used before, "quick fixes." Sadly, some of the means by which these budgets are apparently being balanced might not even meet the low threshold of a "quick fix."
Here is another article, from Forbes, with the subtitle, "Some of the games states are playing to plug vast holes in their budget deficits."
http://www.forbes.com/forbes/2009/0803/opinions-economy-state-budgets-heads-up.html
SPX at 954.45 as this post is written
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