This is a good look at what is happening at state levels and we know it well in California too. When we hear repealing healthcare where the money come from to support this? In New Jersey, the Governor is facing what we have going on in California. He has unions all over him regarding pensions and we have again seen that in California with Calipers. The most alarming statements I found here was at the very beginning which relates to the “state of complacency” which we are seeing with distractions and gadgets maybe taking a little too much of our time.
When this first starts out Steve Kroft asks the question as why this is not getting enough attention from an analyst office and she gives some interesting insight. She did a study to see if states could be able to pay back what they have borrowed and it’s not good as states are not making some of this public for her study. You can see in the video how Illinois is strapped and see a pharmacy that has been waiting for months from their Medicaid. What is going to happen when stimulus funds run out is the big question. If she’s doing analytics, the analyst on Wall Street might be worth listening too as people don’t pay attention until they have to. BD
Steve Kroft reports on the precarious financial conditions many states are facing and what they're doing about it.