The U.S. spends more for war annually than all state governments combined spend for the health, education, welfare, and safety of 308 million Americans.
Joseph Henchman, director of state projects for the Tax Foundation of Washington, D.C., says the states collected a total of $781 billion in taxes in 2008. For a rough comparison, according to Wikipedia data, the total budget for what the Pentagon calls "defense" in fiscal year 2010 will be at least $880 billion and could possibly top $1 trillion. That's more than all the state governments collect...
See also: We're Screwed! - Thursday, December 31, 2009
ShadowStats.com founder John Williams explains the risk of hyperinflation. Worst-case scenario? Rioting in the streets and devolution to a bartering system