This is madness. Nearly all states have some form of balanced budget requirement & face massive cuts to everything b/c of COVID-19. The federal govt, issuing the world's reserve currency in a time of negative real interest rates, faces basically no constraint on its ability spend https://twitter.com/NikkiHaley/status/1250200454342103040

Let's be clear on what Haley means: we should have massive cuts in $$ for education, health, etc - b/c COVID-19 will incinerate state tax revenue - in order to teach morality lessons about surpluses.

I thought Haley was angling for the 2024 GOP nod, not Dutch finance minister

Aside from direct $$ to individuals & income insurance for businesses, state/local aid is the most essential policy now. W/o it, cuts to public schools/higher ed, roads, & local public services of all kinds will be enormous. They are totally avoidable, given federal resources.

All signs are that we are going to head down precisely the same awful, needless road as last time, w/ short-term federal crisis spending more than cancelled out by a longer bout of state/local austerity. B/c this time is never different, & we never learn. https://twitter.com/mcopelov/status/1121888942129864704?s=20