It’s baffling that the GOP is yammering about a “blue state bailout.’ Red states are in big trouble, too.
With the coronavirus crisis threatening to choke state budgets and force massive, economically damaging spending cuts, Republicans have responded in their time-honored fashion, by telling New York and the rest of blue America to politelySenate Majority Leader Mitch McConnell set the tone last week when he said that any aid to state governments would amount to a “blue state bailout.
“The problem with the states is that we’re not looking to recover 25 years of bad management, and to give them the money that they lost. That’s unfair to other states,”. “Now if it’s COVID-related, I guess we can talk about it. But we’d want certain things also, including sanctuary city adjustments, because we have so many people in sanctuary cities.”
What’s a bit odd about all of this is that GOP leaders are acting as if they have an upper hand on this issue, because only Democratic strongholds like New York and Illinois are in trouble. In fact, nothing could be further from the truth. Red states are also fiscally screwed thanks to the coronavirus, and in many cases may be in worse shape than supposedly irresponsible blue states.
Earlier this month, White and his colleagues published a forecast showing that, due to the coronavirus crisis, the vast majority of states are likely to face serious budget shortfalls over the next year that will more than devour their entire rainy day funds—and that some of the worst emergencies are likely to be in swing states and in deep Trump country. Sure, New York, New Jersey, and Illinois are in trouble.
Moody’s Analytics estimates budget shortfalls by estimates declines in tax revenues and increases in Medicaid spending, and subtracting them from state rainy day funds.The fact that Louisiana is currently facing a dark pit of fiscal despair (presumably one filled with oil that
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