That certainly concerns me. If these spendthrift states get a bailout, what incentive is there to ever manage their money properly?
They don’t want any incentive to manage budgets properly. They want the Federal government to bail them out, albeit the Federal government hasn’t passed a budget in what, 10 years? 15? They call them “spending packages” and “continuing resolutions” and “stimulus bills” but they don’t actually pass a budget. I’m not sure this is even reported in the press.
Don’t ever hear anything about “balance of trade” anymore either. It went negative in the 1970s and has cratered ever since. So in effect the US borrows money from say, Japan, or China, and then gives it to say, Ukraine, or India. With a few politicians along the way who get kickbacks. You know who. Guess who is on the hook to pay it back though?
None of the “expert economists” deign to explain how borrowing money from China, and then buying their manufactured goods with that money, is “sustainable”. We hear a lot about “sustainability” in articles about “the environment”, though curiously hardly ever about our nation’s economy and spending.