Socializing State Budget Shortfalls Through Federal Bailouts Won’t Help: Here’s What Will
Posted on AllSides June 19th, 2020
From The Right
OPINION
Citing COVID-19-related budget shortfalls, many state and local officials are calling for a nearly $1 trillion federal bailout. That works out to about $7,800 per household in new federal spending.
It’s also more than twice the projected COVID-related state and local revenue losses for 2020 and 2021 combined.
To go along with this would throw fiscal restraint to the wind. Luckily there are better options for states, ones that wouldn’t require higher taxes and would leave their treasuries, economies, and residents better off in the long-run.
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