"Gov. Haley Barbour of Mississippi, a Republican, said that a default stemming from a failure to increase the borrowing limit would be “terrible” for states. But he said that states must also brace themselves for managing a new set of cuts even if the limit is raised. “No matter what happens, states are going to get less money from the federal government,” he said."
July 17, 2011
All this wailing from the Governors is one more indication that government spending at all levels has exceeded the nation's ability to pay for it.
Meanwhile politicians of both parties are trying for political advantage when they should be seriously tackling the problem...too much spending. It's beyond time that elected officials act like statesmen rather than politicians angling for an advantage in the next election.