States shed government jobs as revenue plummets

As States exercise fiscal discipline, call it facing reality, the federal government attempts to fill the void by supporting and supplanting the far more efficient private sector in employment, spending, and investment. "Save me" policies carry a steep price tag in terms of devaluation of USA, Inc (gold) and future borrowing costs (bond market). Be certain, however, that the price tag will be ignored until realization of these consequences by the public creates another, far more dire in terms of standard of living cry of "save me".

Pennsylvania, Michigan and Washington shed government jobs last month, a result of shrinking state tax revenue that economists fear could weaken the recovery.

Source: news.yahoo.com