Jefferson County Alabamba in fear

of becoming bankrupt.  The Wall Street Journal article is showing how the county situation unfolded and what is currently happening to try to cope with this  http://online.wsj.com/article/SB10001424052748704559904576230452710035180.html?mod=googlenews_wsj   An earlier article also presents facts   http://www.reuters.com/article/2010/04/09/us-usa-alabama-jeffersoncounty-exclusive-idUSTRE6384NQ20100409

Revenues may have increased for

state and local governments, but there are still shortfalls http://www.washingtonpost.com/politics/revenues-up-for-state-local-governments-but-shortfalls-persist/2011/03/29/AFjjTExB_story.html

Ben Bernanke says state government budgets

still will have woes even as economy begins to rebound http://accounting.smartpros.com/x71499.xml

Governors try to curb medicaid

as discussed in this Wall Street Journal article
With many states facing deficits, Medicaid, often the most expensive state program behind local government and school district grants is being looked at closely . Medicaid, created in 1965, is a federal-state program with the federal share dependent upon the wealth of the state.
http://online.wsj.com/article/SB10001424052748704430304576170842026286166.html?mod=djem_jiewr_PS_domainid

Bill Gates says State accounting

would make Enron blush... http://online.wsj.com/article/SB10001424052748703300904576178872899979798.html?mod=dist_smartbrief

the federal debt today

this program from Stanford Graduate School of Business discussed the problem and has a video from the event at the site http://csi.gsb.stanford.edu/sobering-look-todays-federal-debt?cmpid=alumni