Detailed text transcripts for TV channel - MSNBC - 20100313:15:18:00
A lot of these states, alex, have budget deficits that are extraordinary. they don't have the money. last year, california was issuing i-o-us, rather than salaries to employees and pensions. what this reflects is a real crisis of state government with their budget deficits enormous. they're shutting down schools, they're laying off teachers, they're letting prison workers go, they're opening up prisons. and frankly, they've got to downsize. the private sector, as you pointed out, has 17% unemployment, and those folks have lost money in the stock market, their home equities, and i think the pub...
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