Senior Fiscal Analyst, Council of State Governments
Senior fiscal analyst with the Council of State Governments, which forecasts policy trends for the states, commonwealths and territories
PROFILE
Sujit CanagaRetna
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FROM Sujit CanagaRetna
To the Point
The Growing Credit Crisis President Bush signed the " economic rescue " into law Friday but the stock markets are declining anyway in New York and around the world. Today, the Federal Reserve said it would buy up commercial paper to get lending started again. Will taxpayers be saddled with more debt? Meantime, state governments, normally safe investments in tough times, may not be able to borrow what they need for schools, police and local governments. California, the eighth largest economy in the world, may alone come up $7 billion short. Will states be going to Washington, too? We hear more about the credit squeeze from local and global perspectives.
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