Cuomo slams McConnell: States declaring bankruptcy is 'one of the really dumb ideas of all time'

[mystery-ak]

Cuomo slams McConnell: States declaring bankruptcy is 'one of the really dumb ideas of all time'
By Rebecca Klar - 04/23/20 12:51 PM EDT

New York Gov. Andrew Cuomo (D) slammed Senate Majority Leader Mitch McConnell (R-Ky.) on Thursday for saying he supports allowing states to declare bankruptcy amid the coronavirus pandemic.

“This is one of the really dumb ideas of all time,” Cuomo said during his daily press briefing.

“Not to fund state and local governments is incredibly short-sighted. They want to fund small businesses, fund the airlines, I understand that, but state and local governments fund police and fire and teachers and schools. How do you not fund police and fire and teachers and schools in the midst of this crisis?” Cuomo added.

He said if the federal government doesn't fund the states, the states can’t fund the vital services.

more
https://thehill.com/homenews/state-watch/494326-cuomo-slams-mcconnell-states-declaring-bankruptcy-is-one-of-the-really

[bilo]

Cuomo can complain all he wants, but McConnell is making a good point. If a state has so mismanaged it's funds it's needs a bailout why should a well run state bail them out. A bailout will only produce more bad behavior (moral hazard) by the mismanaged state.

[Right_in_Virginia]

“This is one of the really dumb ideas of all time,” Cuomo said during his daily press briefing.

I think ramming your state into the fiscal wall for 11 years is THE dumbest idea of all time, Mr. Governor.

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