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It may be that what legislatures do is they cut spending, maybe they cut teachers, maybe they cut police and fire, maybe they cut Medicaid, or maybe they raise taxes. But the government and therefore the taxpayers one way or another generally have to make up any shortfalls, if they fall 12 percent short in a single year, we’re looking at more than $400 billion of a shortfall, which taxpayers would have to make up.

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