The NYT's resident paperboy is really desperate to be posting stories that are essentially the same for states going through the same issue. Alaska, Kansas, Alabama.
The link SB provided underscores the national scope of this dilemma and fails to mention to root cause of it; RINOs who get elected on conservative rhetoric and spend spend spend spend as irresponsibly as liberal progressives on crack.
It's real simple and businesses do it all the time. For instance Here we count on hurricanes hitting every 7 years. Businesses vulnerable to the damage save back capital to A) lower their insurance rates and B) keep their businesses operating. All of our employees knew they have jobs and are needed at work 24 to 48 hours after a hurricane if they can make it to work... even if we lose 100% of inventory as has happened three times since 1980.
There's something about working with revenue from taxes that intoxicates elected legislators, mostly lawyers, and makes them start spending like shopaholics on crack.
Here in north Florida we get as much Alabama news as from Florida. Alabama's tax revenues for the past year were above last years but their spending exceeded last years revenues. What the F**k is so hard to figure out about that? They used to run on a balanced budget just like every household and solvent business has to do. If you don't have the money, don't spend it.
Next headline: Wait until the Montgomery Alabama downtown reinvestment bubble pops. They have bars, restaurants and other businesses who are making more off city subsidies than their own sales... all thanks to a RINO.