[THS] Inside the Dire Financial State of the States

[The Harder Stuff in news and commentary]

Greenspan Says U.S. May Soon Reach Borrowing Limit:

"Perceptions of a large U.S. borrowing capacity are misleading," and current long-
term bond yields are masking America's debt challenge
http://tinyurl.com/2bpg65j

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California on 'verge of system failure':

Golden State, like many others, is nearly bankrupt and desperately needs a bailout
http://tinyurl.com/23xeknm

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Inside the Dire Financial State of the States:

Falling prices for stocks and real estate have made mincemeat of often underfunded
public pension plans. Unemployed workers have swelled the demand for welfare and
Medicaid services.
http://www.time.com/time/nation/article/0,8599,1997284,00.html#ixzz0rLmInpFH

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Nearly one million US workers cut off unemployment benefits:

With 12 Democrats joining a unanimous Republican bloc, the US Senate voted
Wednesday to defeat a proposed extension of unemployment benefits for workers
who have been jobless for nearly two years. The bill would have extended
unemployment benefits for those out of work more than six months, until November
30
http://www.wsws.org/articles/2010/jun2010/unem-j18.shtml