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It may very well be true that the states cannot be the bank for the federal government, but it is just as accurate that the federal government is no longer in a position to bankroll the states. It wasnt the states that bailed out the banks; it wasnt the states that bailed out the automobile industry; it wasnt the states that bailed out the credit industry, the mortgage industry or the airlines industry. It was the federal government (more accurately the American taxpayers) and the states have been eager to funnel as much of that new found largesse into their treasuries as possible. Time for the states to pony up. They have skin in this game, too.

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