California already has the worst credit rating among the 50 states, and budget cuts have torn a hole in the state's social safety-net.
If remote sellers have found a temporary "hole" in state sales tax laws to escape the collection of sales taxes, it is simply the responsibility of legislators to plug it.
The burning question is whether the scale of Bankia's hole provides clues about the state of other weak lenders.
To pull the state out of its hole, Mr McCain offers low taxes, retraining and an all-inclusive energy policy.
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In this case, a tiny state had a massive hole blown in its budget through the folly of just a few lawmakers.
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State budgets got into a hole, and then it became harder, and so they had to make it up on the tuition side.
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In Georgia, officials have found that efforts to scare illegal immigrant farm workers out of the state have left a gaping hole in the workforce, one the Governor has encouraged be filled by recently released prisoners.
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But Spitzer and his cadre of state officials revealed an even bigger hole in the SROs armor.
The inescapable bottom line is that the many political miscalculations of Scott Walker are now coming home to roost and even Koch Brothers money is unlikely to be enough to bail the governor and the state GOP out of the huge hole they have dug for themselves.
The Everett Clinic in Washington state has taken steps to plug this hole by deciding not to become a full-fledged ACO.
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And any tax rise to deal with the pension hole will come on top of the jump in state income taxes from 3% to 5.25% and a significant increase in business taxes unveiled this year to deal with the running deficit.
So, state legislators are in a much deeper fiscal hole than they realize.
He is benefiting handsomely from the national interest in his candidacy, persuading his party to devote lots of resources to a state that it recently regarded as a black hole, and starring in fund-raisers in New York and Washington.
For over twenty years, the Inspector General has recommended that Congress close the loop-hole in the federal law applicable to pensions, ERISA, that allows this state of affairs to persist.
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