THE STATES ARE HURTING, HERE'S ONE EXAMPLE

Arizona may run out of money before the end of February, forcing it to borrow money to pay the bills. This won't be helped by any "shovel-ready" stimulus package.

State could be out of money by next month
AZ fund balance might fall to negative $50M on Feb. 23
The Associated Press
Tucson, Arizona Published: 01.05.2009

PHOENIX — Arizona could run out of money to pay its bills as early as next month and may have to borrow money in the short term for the first time since World War II, state Treasurer Dean Martin said.

An analysis by the treasurer's staff shows that the state's fund balance could dip to negative $50 million on Feb. 23 at the earliest and mid-March under a more optimistic scenario.

"No matter what (lawmakers) do with the budget, we'll be negative in March or April," Martin said.

With no reserves to cover the bills, that could force the state to borrow at least that much, if not far more.