As tax revenues continue to fall – something no state ever expects, even though revenues rise and fall in a fairly regular way – the Wall Street Journal reports that states are reacting in different ways.

On the positive side, something that might get undermined by a federal bailout, Wisconsin and Minnesota “are looking for ways to share everything from heavy equipment to software and road salt in hopes of easing both states’ budget woes.”

On the negative side, “Many states have essentially put off budget negotiations in anticipation of state aid in the stimulus package being urged by President-elect Barack Obama.”

Like North Carolina, most states are required to balance their budgets. Asking Washington to borrow money on behalf of the state is an attempt to get around that constitutional requirement. Gov. Perdue should live within the actual bounds of the state constitution or be honest and seek to amend it to allow borrowing in cases like this. Wouldn’t you agree Justice Orr?