This is definitely Signal (versus noise): The coming fiscal catastrophe for "blue states" like California, New York, and Illinois.
Read the original article in the NY Times (!), or this analysis. Take your pick.
Outsized welfare programs, excessive regulatory environments, out of control public sector unions and all the rest are finally adding up for would-be buyers of state bonds, and they are voting with their checkbooks.
A Se'nnight of Steyn, April 24-30 - In case you missed it, here's how the last seven days looked to Mark: ~The week began with the first round of the French presidential election. Steyn analy...
42 minutes ago