Need For States to Avoid Loans


States around the United States are facing tremendous difficulties as the economy slowly recovers. The states are finding their budgets bloated and incapable of being reduced to match the lower earnings that the states are taking in during the times of high unemployment. Many of the states, with Illinois, California, and New York the biggest culprits, are covering their deficits with loans that have hurt the states' credit ratings and have made those loans costly in the long term.

These loans are not solving states' problems, and instead, are causing them to be even greater down the road. These loans will have to be paid back with interest, which means the states will face even greater budget gaps in the future. While the states are reluctant to cut programs, it is time for independent agencies to review the states budgets and to identify areas that are bloated.

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Thus far, the states seem most eager to target programs directly affecting their tax payers. Education programs have seen tremendous cuts, with teachers being laid off in the tens of thousands. However, there must be other programs, lower priority organizations within the government itself that can be targeted. Every year, there are new revelations of bloated programs in the states that have been forgotten and are costing millions to tax payers.

The states need to meet their budget requirements, but not by simply taking loans. The states need to pull their belts tight, and find ways to identify cost saving measures, even if they require raising taxes, in order to meet the budgetary problems the states are facing.


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