In case it hasn't been said enough, many parts of the U.S. are hunkering down to weather a recession. Unfortunately for states like, California, Arizona, Nevada, Delaware, New Jersey, and Ohio--state governments are going to the well to pay their bills.
If ever there was a perfect storm for a weak economy, this is it. Between fighting a war on two fronts, trying to soak up a housing foreclosure tsunami with a sponge, and a softening job market, I'll paraphrase the award winning song from the film "Hustle and Flow" and say: it's hard out here for government pimps.
Fortunately in Iowa, our affairs are well enough in order that our piggy bank won't break this time around, but for neighboring Wisconsin, times are hard. Wisconsin is bleeding Badger red to the tune of $650 million.
It is easy enough to attribute such things though. When people are out of work or working for less than they used to, companies are making deals to help themselves to state revenue, and traditional wells to derive taxes from are drying up, things will take a turn for the worse. Sadly, the people who'll always feel it first are the poor. And as the poor go, so goes the nation.
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