The noise you hear is politicians squealing like pigs deprived of food. Government, at all levels, is out of money. Tax revenues and markets refuse to bow to the pigs' demands. Ben Bernanke is printing pig food. For a while, his produce might work, but eventually markets will expose his artificial feed source with increasingly higher inflation.State and local governments have no way to feed their pigs. They survived the last couple of years based on overblown stimuli and political largess from Washington. Now Washington does not have enough for its own pigs. They are not about to share what they consider too small a food supply with others. For states, the game will end soon. Steven Malanga focuses on the problem below the Federal government level: Their biggest problem has been that until now most state legislatures and governors have continued to see the current downturn as just another budget cycle, albeit a nasty one. In their budgeting, states...(Read Full Post)