So will it be called the BSA? Bankrupt States of America.
Most of the states have traditionally been RED states for decades meaning ruled by Republicans. You can only go so far reducing the taxes until you bankrupt yourselves.
As most of them hate big Federal Government, only recourse is to look up the sky and hold hands and see if there is that JESUS waiting to shower dollar bills! They may be surprised if they spot the creature up there looking down is the Chinese President HU JINTAO.
In general, the states in the worst financial status are the ones that are the most BLUE. Their problems are due to too much spending, much of it on too many social programs. They also tend to have taxes nearer to the higher end of the scale for States. California is the prime example with very high taxes and spending out of control. In second place is Illinois. They had a low income tax until very recently but other taxes such as sales and property are very high.
Most of the very RED states are in better financial condition. All are in debt to some degree but who isn’t?
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