While great attention has been given to the massive federal debt and skyrocketing deficits, the news from many state-level budget offices is just as grim. With shortfalls in state pension funds and fiscal crises in states from New York to California, once-unimaginable scenarios are unfolding. Will states actually default on their debts?
On February 2, Tracy Gordon, author of a recent article on state and local finances, took questions in a live web chat moderated by Seung Min Kim of POLITICO.
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