A fiscal crisis is also known as a budget crisis. In my opinion, this is pretty stupid. This means that there is no budget that anyone can agree on. So, what there won’t be money for the states? I believe, that the prior presidents and senates are to blame for the fiscal crisis. The republicans are back in control and Obama is massively over spending. Canter promised to “play hard ball” with the White House and Obama. They are trying to prepare the republicans for the ways of Washington. They are trying to get tax, medicare, and health insurance lowered. If spending does not get cut, the republicans will push the issue. The republicans feel it can trigger a depression. Canter’s threat was pretty serious. The markets reacted horribly, it was almost like they didn’t react at all. All the talks were kept secret. President and speaker tried to work things out, but they could not find something to agree on. The debts just keep on rising.