The first of many to come

[Sarge]

Chicago is right behind. They are 3 months late paying bills.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aI_NnaHI.wzo

CA students can't get into College this fall.

Fed balance sheet at 4:30 ET tomorrow. Get out the Red paint can.

Consumer credit 3 pm. ET today. That one should be interesting with no clunker program in the figures now. Estimate -8.5 B.

I am not sure the govt. is taking into account the mattress or safe revolution each month.

[tmosley]

Wow, positive news for New York.

Of course, he should have cut it by 36%+, but it's a start.

[Sarge]

The rest will follow. NY 54 B in the hole?

Chicago 3 B in the hole. AZ 3 B in the hole. CA plug the number in on how bad.

Tax and sales receipts falling off a cliff. This mess could turn into a death spiral.

Ben is going to have a big headache tomorrow night. OK tonight. I am sure him and GS will know the numbers tonight on how bad the budget is for the year. Wait for Oct. receipts. New year and plunging receipts is my guess.