Paul Krugman’s Sunday column about the Depression he believes we are experiencing the early stages of made me think about the state of affairs here in Obama’s home state of Illinois. The whole column is worth a read, but it was this part that caught my attention:
The Obama administration understands the dangers of premature fiscal austerity — but because Republicans and conservative Democrats in Congress won’t authorize additional aid to state governments, that austerity is coming anyway, in the form of budget cuts at the state and local levels.
As states go, I think I can make the case that Illinois is at the forefront in already having achieved “premature fiscal austerity” and the effects on actual individuals, particularly in the area of job loss, are worth looking at, for we are in the unique position of being the bellwether for the nation in this area.
