In AZ, we are working on our budget. The legislature's outlook for FY 2015 is as follows:

"In FY 2015, the state’s general fund is scheduled to get hit by a double whammy: Obamacare’s Medicaid mandate is fully implemented and the phased-in business tax cuts the Legislature enacted begin to bite. According to the Legislature’s projections, the state will face a 2015 deficit of $686 million."

http://www.azcentral.com/members/Blog/RobertRobb/155997

The tax cuts will be sacrificed and other spending cuts will be made in other budget areas, which will come with the usual doomsday cries.

This scene will play out in every state capitol, as Obamacare costs begin to come on-line. If Obama wins relection, look for another push for "stimulus" spending to support the states so they do not have to lay off public employees. You heard it hear first.

similar to what old Europe is doing for Greece...

Only old europe has money to give where whe would need to print more.