I explained last month why that would be a mistake, in large part because bailouts would reward states for irresponsible fiscal policy (similar to my argument that countries like Austria and the Netherlands shouldn’t be bullied into providing bailouts for Italy and Spain).
Today, though, I want to focus on some numbers that show what’s really causing fiscal problems in some states.
Adam Michel and David Ditch of the Heritage Foundation have generated some startling data on state government finances.
Instead of waiting on a handout from Washington, states should clear the way for a more robust economic recovery by addressing their unsustainable…
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