Thanks New York and California

Thanks to New York , California and democrats, we're in for a heck of a time. From what I've heard there is already a movement under way to stop the Feds from bailing out both states. Those people voted for the mess they're in, let them pay the consequences...

Indebted and Unrepentant

New York and California stand virtually alone against the rest of the country.

This sets up what could be an ugly fight in which a Tea Party–inflected national Republican Party, encouraged by its strength in the interior states, forces California and New York—now heavily dependent on federal subsidies—to reduce their spending sharply. The coastal giants would no doubt respond by threatening defaults, which could affect the credit standing of the entire country, since many of the bonds are held by foreign investors. The upshot would likely be a high-stakes conflict about free trade, globalization, social class, race, illegal immigration, and public-sector unionism.

Are the Democrats going to take over newspapers next?

Congressional Hearing on the Future of Newspapers Set For Thursday

Rep. Carolyn B. Maloney (D-N.Y.)

"I am holding the Joint Economic Committee hearing to examine the importance of newspapers to our democracy throughout our nation's history and the treacherous economic landscape they face," Maloney wrote in a statement to E&P. "The witnesses will review alternative funding options for newspapers in our new and ever-changing electronic age. Since the ratification of the Bill of Rights, the federal government has acknowledged that the press is an institution which is afforded special protections by name. In this spirit, I think that the government can help foster solutions for this industry in ways which protect the independence of newspapers and enables their objective reporting to thrive in a new economic and media climate."