States Face Tax Shortfalls

The front cover of the WSJ (subscription may be req'd) this morning shows how states are struggling with their budgets this year. The very interesting thing about the state map is where the budget shortfalls are worst - the most liberal states like California, New York, New Jersey, Rhode Island, Masschusetts and Maryland, where there are huge government welfare programs.

Let's just hope the Federal government doesn't bail them all out like we are with the mortgage crisis. Doing so will only force them to continue their free-spending, irresponsible behavior.