States Ready For Bankruptcy....

#41, Florida

Debt 2009: $38.9 billion
Projected 2012 Budget Shortfall: $3.6 billion
GDP 2009: $737.0 billion
Debt/GDP Ratio: 5.28%
Unfunded Pension Liabilities: -$1.8 billion (-1%)
Unfunded Health Care & Other Liabilities: $3.1 billion (100%)

On the chopping block: The judicial system. Staff have been relieved, basic maintenance has been cut, programs for drug offenders have been reduced, and one Tampa courthouse is infested with vermin. All that hasn’t stopped the 1st District Court of Appeal in Tallahassee which is building a $48 million courthouse complete with 60-inch LCD flat screens for each judge.

While $3.6 billion out of a GDP of $737 billion shouldn't be all that hard to find, the counties are screaming bloody murder that they'll have to stop creation of all those wonderful bike lanes and will fight this to our dying breath. There is way too much fat in every city and county the state over and they bloody well know it, so its not like the sky is falling but getting them to think surplus over debt is nearly impossible. Because it ain't their money.

You can click the headline link to see how your neck of the woods is fairing.