Funds
removed from one pocket and placed into another pocket of your pants,
is the same money. The amount is the same, no matter what pocket it
comes from.
In
the same way, money can be substituted from one pocket of government
to the other, to hide the source of funding. It
adds up to the same total outlay.
What
the government in Washington called stimulus funds, for the most
part, became slush funds. for use by its politically-preferred state
governments.
These states used the money, to a great extent,
to help balance budget deficits.
The
reason state budgets are so out of hand can be attributed primarily
to their unionized pension obligations. It is estimated this is a
major, ticking financial time bomb, waiting for more government
bailouts under various guises. (See the Earl J
Weinreb NewsHole® comments.)
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