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Kentucky can possibly try to borrow money to get through the current downturn and hope for the best, but the more solid strategy for Kentucky taxpayers would be getting state and local government out of a lot of businesses.
Now that Sen. Mitch McConnell is starting to respond to calls to halt the bailouts, Kentucky needs to move quickly to get its house in order. Remember, even if we get a bailout our state budget is still structurally unsound. And unless President Obama plans on giving us $33.4 billion, we still have our public employee benefits mess heading our way like a freight train.