When the chickens come home to roost as they eventually do it’s a safe bet that you don’t want to be sitting under the roost.  So, I’m cringing as I think about how our debt habit is finally starting to hurt us in ways that really count.  What’s going to get cut? Who’s going to get hurt? And will we learn the larger lesson about the borrower being the servant to the lender?

There’s lots of misery to go around, apparently.

Courthouses: Will the Derby courthouse close? Local businesses would suffer, other courthouses which already lack space would have to pick up the slack. (story)

Nursing Homes: “Representatives for Connecticut’s nursing homes are warning that budget cuts proposed by Gov. M. Jodi Rell and the legislature’s Democratic leaders could cost thousands of jobs at facilities across the state, and might plunge currently stable facilities for the elderly into financial peril.” (story)

It’s not only the State of course, but towns are varied as Greenwich and Hartford that are seeking ways to cut expenditures, raise taxes or both.

The next shoe to drop: commercial real estate.

Continue to pray for the Governor and all our State legislators.