EUR

Here is the budget gaps by state for 2010 (Table 4)
http://www.cbpp.org/cms/?fa=view&id=711

For 2011 look Table 1

For example compare 2011 for

Illinois 0 $13.5 billion $13.5 billion 40.4% (Total Shortfall as Percent of FY11 Budget)

compare to

Texas $3.3 billion $1.3 billion $4.6 billion 10.2% (Total Shortfall as Percent of FY11

Budget)

So in that example Illinois is 4 times worse than Texas

California is twice as bad in that matter than Texas

California* 0 $17.9 billion $17.9 billion* 20.7%


Now you can compare state by state ;)

Cygnus..deh no know..deh drunk ol men..:)

It is the younger generations that got us into the financial mess. All economic graduates in recent years need to go back to school to learn the meaning of a loan. Its that silly ! They studied the wrong model. Young wiz kids from multi level marketing replaced older generation bank managers in the mid 90's. They would now be about age 40/45. Wow they could sell sand to the arabs but they had no idea about business. Young people naturally have idealistic views but then catnip they grow up into men with some real experience in life.

I'm afraid the european parliament is a wonderful den of corruption and never likely to change. Members are not even accountable. Older people tend to be nationalistic for very good reason ! Your idealistic dream is finished. Its just a matter of time. And what do you think of Belgium's government in the last 6 months catnip ? yes I mean the capital of europe. What a farce.

I can also see the USA unwinding, particularly Texas. The union has been cheated. Politicians are a necessary evil but they only plan as far as the next election and most have no other experience in life except hot air and exploiting self interest. The union was originally governed by part time entrepreneurs from all sectors. It had a chance of working then. Now congress is nearly as bad as the european parliament. The world is in great danger of total implosion catnip but you seem to think that spinning money around in circles playing tricks can solve everything, real jobs and real work producing goods of value are what matter. You can look to germany for what I am talking about. Much of europe became excessively lazy and uncompetitive because it was your idealistic dream that created that situation. In the end eveything will revert back to the laws of nature. You won't even be able to trade markets for your living. You will be forced to produce something useful or choose to starve :-)

The best choice for germany, that means the lesser of great evils, is to revert back to your own currency and let the rest of europe go its own way. By all means try to maintain some degree of trading union with europe and uk must do similarly without picking up the tab for a lot of past extravagance and laziness. Non competitive countries will have to wake up to the laws of nature.

Merkel: the stake is set on fire and the guillotine is sharpened and well greased.
She had to admit economy politics is a failure and Ezone has to prepare a common ministry of economy. The most important step is a common treasury issuing Eurobonds.
Political activism will go off in PIIGS to behead this Germany above all lady politically.
She has ruined the one-Europe idea.