A Bailout Won't Help States With No Financial Backbone"At a time when huge spending bills marked “coronavirus relief” are easily passing Congress with little scrutiny, poorly run states are asking unscrupulous members of Congress to slip in taxpayer bailouts to rescue them from years of their own fiscal mismanagement.
In response, the House of Representatives on Friday passed a coronavirus relief bill that includes a half trillion dollars (trillion with a “t”) in unrestricted funds to bail out state governments for years of reckless expenditures entirely unrelated to the pandemic.
I have the same reaction to these proposals that I had when I worked in government and people were proposing millions of dollars in monuments to little known people on what seemed like every street corner, while many Americans were out of work and struggling to make their next mortgage payment: “Have you lost your mind?”...
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