Washington Post: McConnell’s rejection of federal aid for states risks causing a depression, analysts say
By ROBERT McCARTNEY
Senate Majority Leader Mitch McConnell (R-Ky.) would rather see states declare bankruptcy than give them federal aid to deal with the economic collapse triggered by the coronavirus pandemic.
That’s a recipe for turning a potentially short recession into a prolonged depression, according to officials and analysts.
The question of whether Congress and the White House should provide relief funding to state and local governments — as the feds have done already for private business — is about to reach a showdown in Washington.