The Democratic State Budget Scare
9/1/20
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from The Wall Street Journal,
8/31/20:
Congress’s latest virus relief package is hung up over aid to state and local governments with House Democrats still demanding as much as $1 trillion to forestall what they warn will be horrific cuts to public services. Don’t believe it. State tax revenues are rebounding as the economy reopens and improves.
We examined recent monthly revenue reports for various states and, not surprisingly, Democratic states that maintained stricter and longer lockdowns appear to be recovering more slowly. But even they are raking in more cash than they let on.
Take California, Indiana, Illinois, New Jersey, New York ….
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