Minn. Gov. warns of cash crisis...

[IanMacQuaide]

ST. PAUL, Minn. (AP) - Minnesota Gov. Tim Pawlenty warned on Friday of "an imminent and severe cash flow crisis" in an executive order that requires agency commissioners to plan for state service interruptions.
The order instructed Pawlenty's cabinet members to identify core functions pertaining to "life, health and safety of Minnesota citizens."

http://www.breitbart.com/article.php?id=D9FI3UP80&show_article=1

 

[MohdSalleh]

just print some more.

 

[blox87]

I'm in MN....

I've noticed a lot of districts going to 4 day school weeks. not good at all.

When will the final straw break the camels back with all of our country's debt. 2-5 years? 10 years?

 

[Trendytrader]

Heard today another state all employees furloughed 1 day per week i.e. 20% pay cut.

 

[Illum]

Well, the Democrats in that state refuse to make cuts and the Republican Gov refuses to raise taxes. So... fubar. Either one side backs down or they need to open up one of them central bank thingys and get to printing. This seems to delay the pain for awhile... although I hear it may end up worse.

 

[clacy]

Quote from Illum:

Well, the Democrats in that state refuse to make cuts and the Republican Gov refuses to raise taxes. So... fubar.

This is the crux of the matter in that state, as well as this country.

At the end of the day, the unions and deadbeats want their handouts/cushy benefits and the net tax payers want to keep more of their own money. Needless to say, government employees often fall into one or both of the union and deadbeat categories.

 

[nutmeg]

Probably a Mexican standoff.

Each state is holding out just long enough waiting for the first one to go bust and get Federal aid. Then all the states will go to the Fed for a handout.

 

[MattF]

Maybe they can auction off the new Target Field that just got built