I wanted to briefly comment on this recent (July 17) Wall Street Journal article that mentions how Illinois and California are working to “balance” their budgets:
The article brings to mind a term that I have used before, “quick fixes.” Sadly, some of the means by which these budgets are apparently being balanced might not even meet the low threshold of a “quick fix.”
Here is another article, from Forbes, with the subtitle, “Some of the games states are playing to plug vast holes in their budget deficits.”
SPX at 954.45 as this post is written