Letting state governments go bankrupt is a terrible idea

Congress has cranked the spigot of federal dollars wide open in response to the COVID-19 pandemic, first to improve the public health system’s response and then later to try to soften the blow to the U.S. economy. The amount of spending has been breathtaking: $3.6 trillion so far, which is about $140 billion more than the federal government collected in taxes, tariffs and other revenue in fiscal 2019.