Why do the states need bailouts from the feds?

There is no real money...it's just national debt that is created because all US governments and all US citizens are incapable of living within their means. As long as the US government and Americans can pay the service charge on the debt no one seems to care. Debt is not free and I'm guessing the current service charge might be $350 BILLION or more...per year!

But good luck that any administration can greatly reduce government and/or increase tax revenues. As long as Americans refuse to fund the government which they demand, no politician can break this trend. Today the numbers are so large that any attempt to increase taxes or reduce government has a huge impact on employment and GDP, etc. I can't even guess where this all ends...

 

They need bailouts because they had to continue paying police, fire, transit and many other state employees throughout the pandemic while not collecting any stste income taxes from millions of employees in private industry,loss of sales taxes, gasoline taxes,tolls and a host of other income losses.

 

TX and FL will need bail outs next, at that point republicans will ok the bail outs

 

Because most politicians are fiscally irresponsible. They bribe the voters with promises more and more handouts and social programs. They are backed nearly 100 percent by unions whose pension systems are unsustainable.

 

“Incapable of living within their means”.

“...American refuse to fund the government they demand.”

Neither concept applies to the Federal government. How we talk about the Federal government as if concepts of a household budget apply is our problem.

I suppose you could blame Americans for not understanding they’re being hoodwinked wittingly or unwittingly by their politicians but let’s not digress on that topic.

We can fund any government we want, what government do we want?

That is the question that needs to be answered.

Rather than answer that question we wittingly or unwittingly play games with terms or “truths” that don’t apply to keep us from acquiring the answer.

Case in point, your argument is political. Apparently you have that answer, but are attempting to utilize concepts that don’t apply to make your argument. You don’t need the latter. What you want is what you want government to be. That’s good enough.

 

Yasso is the Fed to have you seen our our national debt?

 

Because the Feds control the printing of money.

 

Citizens need to know which ones are.

 

They shouldn't get bailouts even with oversight.

Correction it was government that caused this, not a virus.

 

For now. It won't be pretty when we finally lose the dollar as the reserve currency.

 

Doesn't refute my point. Not supporting the mass unemployed when there are no jobs because of the pandemic (I agree that Trump has largely exascerbated the problem through his inaction or not moving quick enough ) is a volatile situation.

 

It is unacceptable for government to pay citizens for doing nothing just as it is unacceptable and authoritarian to force businesses to close. Nothing was done properly in my view.

 

When you have $22 TRILLION in debt it is obvious 'Americans refuse to fund the government which they demand'.

A budget is a budget and debt is debt...household or government.

Americans not only are 'hoodwinked' by politicians but most Americans go along because someone is bringing home the bacon.

We can NEVER define the federal government because we are incapable of finding consensus.

I didn't provide my personal opinions...I suggested why things are as they are today...which happens to be 100% political...

 

How can local government keep their jobs when they can't balance their budget? No industry does that. And they can't generate new revenue. Only try to manage which they can't do and then get bail outs. That's irresponsible.

 

Googled: 31 percent of state budgets and 23 percent of state and local budgets combined, already receive federal aid. That aid support health care, public education, housing, community development, child care, job training, transportation, and clean water, among other programs, which are vital to residents of every state — particularly those with low or moderate incomes.
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You'll note much of the Federal aid/grants go to support low or moderate income areas for a variety of reasons, low minimum wage, business/industry tax breaks, regulation rollbacks, to name of few.

In other words, the States that like to tout they have low or no taxes are transferring that burden onto the Federal Government. I would look to which States pay the most/least in taxes and then reassess.

We are called the UNITED STATES for a reason. It's like having a lazy family member. We moan and groan about how lazy they are but then we typically help them out when they need it.

 

How can this even be a question?

Our economy has been crippled. Revenue is down across the board. That's no secret.

That means that state and local governments are ALSO short of revenue.

Not helping out states and local municipalities means that there will be CUTS...to services like schools,fire,police etc. and loss of JOBS

This is a no brainer folks

 

Local government is not allowed to print money. The Fed prints more than it needs and doesn't care about the consequences.

Trump's associates are shoveling money into their trucks.

 

I am aware of large corporations that got large loans, but none that got any bailout. Even the small business CARES support was mostly loans, a minority grants.

 

As a slightly off topic aside, Warren's wealth tax is a demagogic sham since it is unconstitutional.

 

It's a tax, taxes are in the constitution.

 

We hoped they were for governments to finance basic services not reward their friends and punish everyone else.

 

Fair, but that's not the government we voted in.

 

We don't know what they spent the money on, because the CARES act didn't require them to do it. How many do you think used that money to buy back shares, pay CEO bonuses and dividends to share holders? We will never know with guys like Mnuchin and Trump running the show, they gotta grease the skids of their corporate buddies..

 

Not in several decades now public employee unions, which in my opinion should be illegal, saw to that only with power hungry Democrat politicians. The relation between the two us now so incestuous this country may well have to collapse before we can begin to undo the harm they've wrought especially at the local level.

 

Because of covid. Tax revenue is down and somebody has to pay the firemen and paramedics.