How is that $26 billion state bailout paid for?

[Geee]

Washington Examiner:

How is that $26 billion state bailout paid for?
By: DAVID FREDDOSO
Online Opinion Editor
08/11/10 1:10 PM EDT

President Obama:

“This proposal is fully paid for, in part by closing tax loopholes that encourage corporations that ships American jobs overseas. So it will not add to our deficit. And the money will only go toward saving the jobs of teachers and other essential professionals…I urge members of both parties to come together and get this done, so that I can sign this bill into law.”

Translation: We’re bailing out public-sector unions just in time for the election, by cutting food stamps and raising taxes.