Tag: State Budgets

Member Post

 

We have early voting here in Florida and received our sample ballot that I’ll mark up and take with me. In light of the increased political, social and economical turbulence this year, I took a closer look at who is running for what in my state. Call it lazy or indifferent, in past years I […]

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Steven Malanga and Brian Anderson discuss how the economic shock resulting from the coronavirus—the closing of large sections of the American economy, the plunge of stock markets—is likely to undermine state and local budgets around the country.

Even as states are searching for extra funds to help battle Covid-19, the loss of tax revenue during the crisis will be devastating. “States that rely on meetings, conventions, and tourism, or that derive substantial economic growth from energy production, or that depend on big gains in the financial markets from wealthy individuals, will be among the biggest losers unless the economy turns around fast,” Malanga writes.

Retirement and Responsibility

 

It is generally believed that every able man should work in his youth. The responsibility to work is most obvious when a person fails to support himself financially, but it is commonly asserted that financial debts are not the limit of this responsibility. Even the son of a billionaire would be looked down upon if he was not somehow productive. To “mooch” is shameful behavior even one’s patrons are unaffected.

It is similarly common to believe that an old, less able man needn’t work any longer. We say that he has “earned” his rest and leisure. The point is easy to grant if the man in question has sufficiently saved to ensure his own financial security for decades forth. Many retirees find ways to be active, socially or in isolation; but we do not demand such activity. For the retiree’s relatives and neighbors, retirement is a time of thanksgiving and recompense.