In a State

Being a governor has become America's toughest job.

By Eliot Spitzer
Posted Thursday, March 19, 2009, at 12:16 PM ET

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There has never been a tougher time to be a governor. Governors must deal with all the problems confronting our economy, but they lack the federal government's ability to run a deficit. With the $787 billion stimulus and sundry other bailout spending, President Obama and Congress have the rather pleasant task of printing gobs of money and throwing it toward favored sectors and projects.

Governors can only gaze on with envy. The numbers from the states are downright horrifying—and getting worse. The best estimate is that states, nearly all of which are constitutionally obligated to balance their budgets, collectively face deficits of about $350 billion over the next 30 months. That is about 20 percent of total state spending.