5 ms·
Similarly: I don't understand the Oregon Kicker: if there is a surplus, it is sent back to the people. DUH! The point of a surplus is to save for emergencies!
by 0xff00ffee 6y ago
Similarly: I don't understand the Oregon Kicker: if there is a surplus, it is sent back to the people.
DUH! The point of a surplus is to save for emergencies! Sure, if there is more than, hm, let's use Chase bank: Six months savings, then send the rest back. But running a state with no emergency savings seems asinine, no?
Unless... maybe a state can just go way into debt immediately if they need to in case of emergency? I don't know how this works, but I'll quote Chase bank, when they berated millennials for not having 6 months savings in case of emergency.
- 0xff00ffee 6y agoI just learned it is illegal for many states to engage in deficit spending for emergencies: "That’s in part because, in many cases, states are legally barred from deficit spending, which means in times of crisis, especially those producing huge budget shortfalls through collapsing tax revenue, they are functionally unable to respond at all. In such situations, the federal government is designed to serve as a backstop, but over and over again throughout this crisis, the White House has said states will get little to no help — that they are entirely on their own. (The federal medical stockpile isn’t meant for the states, as Jared Kushner has said, as though the country is anything more than its states.)" This is why the Trump government stealing PPE supplies from states is so fucked up: Source: https://nymag.com/intelligencer/2020/04/hospitals-face-a-white-house-blockade-for-coronavirus-ppe.html?utm_source=digg https://nymag.com/intelligencer/2020/04/hospitals-face-a-whi...