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IPFS News Link • TAXES: State

State Debt Woes Grow Too Big to Camouflage

• NY Times
California, New York and other states are showing many of the same signs of debt overload that recently took Greece to the brink — budgets that will not balance, accounting that masks debt, the use of derivatives to plug holes, and armies of retired public workers who are counting on benefits that are proving harder and harder to pay.