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http://online.wsj.com/article/SB123759906029901559.html And the idea that Govs are turning down federal stimulus money related to infrastructure is unfounded. Most have said that they dont want the money that will change permanently state laws regarding unemployement ins and other state social programs. The Federal money will drastically expand these programs which the state will be on the hook for in 2 years when the money runs out. It is a bad longterm deal for states and will dramatically increase the size of their expenditures without a real revenue source which to fund them. Basically it is like the govt making a downpayment on your new Mercedes (which you cant afford) but then leaving you to make the payments (which you cant afford). This way the Congressional Democrats and Obama administration can claim credit for helping the needy yet put the individual states on the hook for failing to maintain them. Only in politics can you get money for nothing but the reality is that the Federal govt's money always comes with strings. http://online.wsj.com/article/SB123759827524401409.html |