That’s what Blue Collar Muse is asking. Here’s my take..
If bailouts are bad, they are bad. If people think they are good, they are ok still bad.
But here’s the thing….if Tennessee (or any other state) were to refuse the bailout money, does that mean those dollars wouldn’t be invested spent in another state? Someone is going to be standing there with their hand out.
Wouldn’t we be better off to take the money and then, ahem, “invest” it for an interest in future revenues of another state? For instance, why not buy 1% of Georgia’s state income tax for the next 10 years, or a piece of California’s lottery action, a some of Florida’s sales tax?
I’m just thinking out loud here. I’m sure what I’m proposing is either illegal or would be deemed so pretty quickly by an executive order–can’t have the States exercising this kind of power and making these types of decisions, right?
I know I’m wrong here…tell me why.
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