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IPFS News Link • TAXES: State
State Debt Woes Grow Too Big to Camouflage
• NY TimesCalifornia, New York and other states are showing many of the same
signs of debt overload that recently took Greece to the brink — budgets
that will not balance, accounting that masks debt, the use of derivatives to plug holes, and armies of retired public workers who are counting on benefits that are proving harder and harder to pay.