Emphasis is mine. Would have been really great if Mr. Daniels had successfully put a choker-chain around Bush 43's spendthrift ways.
State government finances are a wreck. The drop in tax receipts is the worst in a half century. Fewer than 10 states ended the last fiscal year with significant reserves, and three-fourths have deficits exceeding 10% of their budgets. Only an emergency infusion of printed federal funny money is keeping most state boats afloat right now.
Mitch Daniels: The Coming Reset in State Government - WSJ.com
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