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South Carolina's Republican Governor has become the nation's first to reject some of the economic stimulus money. Mark Sanford says he'll turn down about $700 million of his state's $2.8 billion share unless Washington lets him use it pay down the debt.

He insists taking the money would harm his state's residents in the long run by increasing the federal budget deficit and building expectations for government programs that can't be sustained.

Funny but it seems like the folks in South Carolina are hurting pretty bad right now. The state has the second highest unemployment rate in the country — having shed many jobs in manufacturing, tourism, construction and retail. Its unemployment rate is at 10.4 percent, second only to Michigan.

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