A recent New York Times feature highlights the really pregnant debt burdens of many states. As the article notes, ratings agencies maintain to rank the states stellar grades despite debt that approaches the levels of troubled eurozone economies. Particularly troubling is the really high debt levels associated amongst pension obligations. It is hard to come across how states tin endlessly boot the debt tin downward the road, as well as it is hard to come across how budgets tin endure balanced inward troubled economical times, specially when taxation revenues to the states are down. As Rogoff as well as Rinehart ominously complaint inward the Times article, "When an accident is waiting to happen, it unremarkably does."
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