Bailing out the states, take two

While much attention has been paid to Kentucky’s revenue “shortfall,” little has been focused on overspending, and even less on debt and mounting future obligations, California continues to provide a glimpse of fiscal ruination yet to come. President Barack Obama probably has his “we have no choice” speech ready to roll for California. Kentucky’s big…

The special sessions we need

Speculation about a General Assembly special session being called in June has been running rampant for weeks. The conventional wisdom is that the House and Senate will agree with Gov. Steve Beshear about a new package of tax increases and run back in town for a week of ridiculous speeches. Affirming votes and collective backslapping…