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: Instapundit.comDIRE STATES: Deep in debt, most governors will have to either raise taxes or cut spending? exactl?
By Glenn Reynolds
DIRE STATES: Deep in debt, most governors will have to either raise taxes or cut spending? exactly what not to do when recovering from a recession. For most, the spending cuts are going to have to take priority. “Neither taxpayers nor bondholders will fund ever-increasing spending. It can?t go on forever; it will stop.” Yes, that rule from Herb Stein — things that can’t go on forever, won’t — is the defining rule of this age.
Full post as published by Instapundit.com on January 06, 2011 (boomark / email).
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