Unfortunately it looks like my home state is joining the plurality of states in fiscal trouble. Sometimes, I wonder why more competent MBA's don't run for office to balance out the JD's who are seemingly unable to grasp the concept of economic cycles. Afterall, finance and commerce are the engines of government and who better understands those than MBAs.
Case in point: Sending out massive surplus checks, unnecessarily cutting or flatlining taxes and FAILING TO DECREASE SPENDING during a boom is a sure fire recipe for massive deficits during a contraction...as my state has just found out. What's weird is that even a bush league MBA could tell you that you need to maintain adequate capital reserves, before increasing salaries, paying massive bonuses or allocating more for capex.
Note to Pols: If a thing can't go on forever, it won't.
