And here come the state governments, looking for a handout from the Feds.
These are the same governors who increased their spending at 3 times the rate of economic growth, and now everyone else is supposed to bail them out. Disgusting.
Do you get the shell game governments play? During economic expansion times they can spend more than the rate of the expansion itself, growing government ever bigger in proportion to everything else. And why not, we'll pay down the debt with a ever-growing economy. Then, during recessions, they of course can't cut spending in the name of trying to stimulate the economy.
Yes, California is cutting back spending right now, after decades of out-of-control growth, but they (we!) are still left with tens of billions in debt and a still-huge budget deficit.