Is a state bail-out feasible?
I would like to pose this question/statement to those more educated than I am in “how the government works”:
My state (Michigan), as you may already know, is in a huge crisis. The Big 3 automakers are now the Imploding 3. We’ve lost countless jobs and underemployment is rampant. Top that with a state government in the red, along with its largest city (Detroit) in the red and bleeding. Foreclosures so common it’s downright scary. And our governor, Jennifer Granholm, begging any company to come to Michigan. Redstate has a great write-up about Michigan’s unique problems, with a healthy dose of “Blue state slapping” (the blog isn’t called Redstate for nothing). With this being said, is it feasible, possible, or even in the best interests of our nation for the Federal government to bail-out Michigan? A $1 billion dollar grant for example? I ask this because when I see $100+ billion needed for the continuing Iraq situation, I just wonder could a state get attention like that.
This isn’t a snarky question. I’m very curious to see your thoughts.