The federal government should have stepped in when the recession hit with generous bailouts to states and municipalities to help stabilize their budgets. Instead, an austerity-minded congress has been letting state governments sink.The federal government has been taking the tax money from state and local government, generally with Yglesias approval. Who backs up the federal government? Congress is backed bu by three or four major states who pay a 25% penalty in money flows to DC.
Typical Yglesias, create a problem by advocating large federal programs, then criticize someone else when state and local run out of money. An Yglesias vs Yglesias debate.
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