The LA Times is reporting that Governor Schwarzenegger's plan to reduce the deficit would be to cut health insurance for 1 million kids as well as to reduce cash grants for working-class college students. http://www.latimes.com/news/local/la-me-… Your thoughts on it?
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You said it: "to reduce the deficit." Most states, as far as I know, are not allowed to run with deficit spending, like the feds. The major reason: no way to create "funny money" through printing huge amounts of currency and floating loans in the form of bonds to the rest of the world. In order to stay afloat, the feds continue to "rob Peter to pay Paul." Individual states can't do that for very long without some severe consequences.
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