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Howard Anglin
Howard Anglin
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      Howard Anglin

      Howard Anglin is a lawyer and sometime political advisor and writer living in Washington, DC.

The great state bailout swindle

2:07 PM 08/12/2010

When it comes to federal spending, it easy to become numb to numbers: $180,000,000,000 to AIG; $150,000,000,000 to Fannie and Freddie; and now $26,100,000,000 to bailout the states (on top of an earlier $53,600,000,000 state education bailout described an “historic,” “temporary” and “one-time appropriation” way back . . . in 2009).  All those zeros start to run together pretty quickly.  And when the federal government is running a year-to-date deficit of $1.2 trillion, isn’t another $26.1 billion practically a rounding error?  Horrifyingly, yes.  But the latest state bailout is a particularly flagitious swindle that deserves your attention.