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Gov. Ted Strickland is continuing to push Congress for a multi-billion dollar bail-out to help states cope with huge money shortfalls. But at the same time he admits: a bailout will sink the federal government deeper into debt. He says federal aid could help block a massive run-up in unemployment, and that's more important than the threat of inflation or federal deficits.
Strickland warns that without federal aid, Ohio's next two-year state budget could be more than $7 billion in the red. He says -- if spending cuts alone are used to put the budget into balance, state government programs would have to be slashed 25%. He calls that "unthinkable." |
