Lessons from MA's Financial Past

On Capitol Hill, House lawmakers are reviewing a compromise plan on a $700 billion Wall Street bailout. A vote on the 110-page bill is expected today and President Bush and Congressional leaders are trying to build support for the plan.

Here in Massachusetts, officials are watching the wrangling in Congress, but they're also awaiting new revenue figures that are expected later this week.

Tax collections in the first part of the month were off $200 million from last year, and continued declines could mean budget cuts, and soon.

Joining WBUR to talk what that might mean for state services and programs is Stephen Crosby. He's head of U-Mass Boston's McCormack Graduate School of Policy Studies and the former Administration and Finance Secretary under Governors Paul Cellucci and Jane Swift.