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Many states are in deep financial trouble. Illinois is one of the worst examples. I was reading about how the state government in Illinois doesn't have the stomach to make deep cuts. The Governor wants to raise taxes but the rest of the government isn't interested as they know it will hurt their re-election chances. They don't know what they are going to do, many hope the federal government will bail them out.
I am strongly against federal bailouts of states. If a state is spending Millions of dollars more than they are bringing in obviously the system is dysfunctional and can't continue. Spending cuts must be made and/or taxes must be raised. It is unethical for people in other states to pay for non-feasible big spending programs elsewhere. Also the U.S defecit is massive enough and we can't keep adding to it. It would be a spending black hole too. If states get bailed out they would have no incentive to change their failed ways.
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