How will state budgets survive?

[Teacher Terry]

Casinos are losing between 1-14 million per day. Our state doesn’t have enough money for it’s budget. Given that more people will need social services this isn’t going to be a quick problem to fix. Y got me thinking about this with her insistence that all seniors should stay home and get meals on wheels. I looked at the link and then went into the site. Even if they did away with the income requirements it’s a expense for our state even if you accomplished the impossible mission of getting enough volunteers. 4 years ago when I was volunteering and helping with paperwork 2 people couldn’t make more than 35/year. In this state it’s not a lot of money since rents are huge. Other states will face the same problem. Are the Feds going to just give money to states while we keep running up the deficit? It’s going to be a big problem.

[Yppej]

Casinos are open now in Oklahoma and will be by the end of the month in Missouri.

[ApatheticNoMore]

States can and have issued their own currency and got people to willingly accept it. California did in the last recession, issued IOUs, so yes it can be done. But an ideal solution? Likely not, but the Federal government bails out big businesses who don't need it, bails out lobbyist, bails out Wall Street etc. but who knows if it will help states.

[iris lilies]

Our city has already frozen all open job positions and all of the Money each alderman is usually allocated for their awards and taken back We are operational purposes. We had a neighborhood meeting last night and the two older men they represent our neighborhood we’re talking about the grim budget situation.

[bae]

Well, if the income via taxation doesn't match the expenses, they can either raise taxes, or reduce spending.

Raising taxes in a terrible economy seems likely to produce poor outcomes.

Reducing essential spending, similarly.

No such thing as a free lunch, I fear.

[Teacher Terry]

Nevadan’s hate taxes. Our property taxes are super low and no state income tax. I would imagine a hiring freeze like in the past. Our sales tax is fairly high.

[ApatheticNoMore]

probably the end of the u.s. as a first world country, despite all else, including skilled people and businesses etc.. maybe they should just get the virus under control and THEN rebuild the economy, but nah trump and so on

[bae]

probably the end of the u.s. as a first world country, despite all else, including skilled people and businesses etc..

Odd theory.

All the natural resources, population, laborers, educated and skilled people, universities, infrastructure, and so on are still here.

Many businesses will fail, and there will be some economic disruption, but it's not like nukes were dropped and cities are in ruins and so on.

When the 50% of the businesses on my island fail in the next few month, I won't have nearly as many restaurants, kayak rental places, whale watch businesses, salt water taffy shacks, good and crappy art galleries, or culturally-appropriative clothing stores to frequent.

The schools will still be here, and the medical clinics, and the power company, the water system, the grocery store, the farms, the fishermen, the loggers, and dozens of other useful things.

I'm not expecting an immediate transition to Somalia.

[LDAHL]

Andrew Cuomo is talking about taxing volunteers who came to help NYC based on any compensation they may have received from their home state employers.

[Tybee]

Andrew Cuomo is talking about taxing volunteers who came to help NYC based on any compensation they may have received from their home state employers.

Huh?