AMERICA GOING BANKRUPT
NOVANEWS
America Going Bankrupt State by State
by Jeff Davis
The next stage of the Obama Depression is beginning now–the financial collapse of individual states. USA Today reports: “Residents eager to get their state tax refunds may have a long wait this year: The recession has tied up cash and caused officials in half a dozen states to consider freezing refunds, in one case for as long as five months. States from New York to Hawaii that have been hard-hit by the economic downturn say they have either delayed refunds or are considering doing so because of budget shortfalls. New York, hit with a $9 billion deficit, may delay $500 million in refunds to keep the state from running out of cash, says Gov. David Paterson. Hawaii’s Department of Taxation says some residents may not see state i...
