Regular commenter here at the AEC linked us to this Boston Herald link. State and municipal debt is close to $5 Trillion - and you can pretty much tack it right onto the Federal budget deficit because the Feds are going to be picking up the tab.
Worse, the very folks that perpetrated this madness continue to point their finger at everybody else. Let's face it, we got here as a result of the something-for-nothing folks that are, even as I write this, doing everything they can to undermine the financial system to bring on their vision of the perfect world.
Nice shot, guys.