Stay-at-home orders in the spring, business shutdowns and tight restrictions on businesses that have reopened are slamming state and local government revenue. In a June report, Moody’s Analytics found that states would need an additional $312 billion to balance their budgets over the next two years while local governments would need close to $200 billion.
Nancy could never explain why some states consider public sector unions favored bailouts while complaining the the private sector cannot afford the taxes.
And we all knew the pension bailout was coming. We all knew it had a huge bailout cost. And we have known for years the bailout request will be handed to the Fed for tax collection. So Nancy comes up with a bunch of masking noise about first responders when she means public sector unions. We are not that stupid.
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