Corzine: States Need Discipline, But Not Right Now

On CNBC this morning, John Corzine inadvertantly summarized very well what is wrong with governments across all levels. I don't have the transcript, but Corzine agreed with the CNBC anchor that states have been very undisciplined with regard to spending during the boom years.

But Corzine then said that "now is not the time" for states to cut back. Instead, he said that the federal government needs to give the states a handout so the states don't make the economy worse. Only when times are better, should states start enforcing some sense of discipline.

Follow the logic? States have no discipline during good years. They should never cut back during the bad years. But hopefully it will change during the next good years...