We've just posted an analysis of the National Governors Association's reaction to President Bush's stimulus proposal. Left out of the deal (reportedly at the last minute) were any funds for state governments, who are trying to make ends meet in a difficult budget cycle. In addition, some governors are concerned that the proposed tax-free dividend change will adversely affect their ability to raise money with state-backed bonds, deeping existing fiscal holes in budgets across the nation. For the full look at the governors' response and of the likely fiscal impact should the plan pass, be sure to check it out right here.