The Federal Government is the only collective entity that is permitted to go into the red

[WCGreen]

longer than the end of the fiscal measure.

By that I mean, the Feds can get money to the problem almost immediately. The states do not have the constitutional ability to shift monies sequestered for budgetary needs into emergency situations. They can sell bond but those bonds have to be tied to something that has to be voted on and signed by the governor.

The Feds can make a phone call and create the money needed to deal with immediate situations.

You can't rely on the states for disaster relief.

Good Grief, Romney is just lying.

And if you do try to have a rainy day fund it will fail because it will grow and charges of fiscal irresponsibility will be leveled.

[CaliforniaPeggy]

1. I've always wondered how that worked, how they could get the funding so quickly.

Thanks for the information!