California has been dealing with a $24 billion budget deficit, which took its state government a while to pass. Newsweek says California's problem "resulted from overspending, foreclosures, contradicting ballot initiatives, and a two thirds majority needed to pass a budget" and offers some hints about the "Next Money Pit" states... and one of those is New York: "The state's revenues were hit hard by Wall Street's financial collapse, leading to a $20.1 billion deficit. It's a heavy spender on social services, too. With state senators busy turning off the lights and locking the Senate chamber doors, is there much confidence that the legislature is equipped to handle future crises?" Anyway, we'll know we're in bad shape when Governor Paterson does a video where he jokes about budget cuts while holding a HUGE KNIFE (yes, the Governator did just that).