Mnuchin: $150 Billion For States Already Gone, No Bailouts For States With Badly Managed Budgets

Mnuchin picks-up this Tuesday where Trump left off on Monday, and it’s not looking good for the poorly run states…

(by Half Dollar) Yesterday the stage was set.

President Trump had this to say about bailing out the States:

Congratulations on being perfect and void of bad management, red states!

Honest question: Is ANY state run well?

Follow-up to the honest question: Or, are all of the states, to one degree or another, on unsustainable debt trajectories?

Nonetheless, Steve Mnuchin has picked-up where Trump left off.

From Bloomberg:

Treasury Secretary Steven Mnuchin said states that had poorly managed budgets before the Covid-19 outbreak sent their economies reeling should not be rescued by the federal government.

“This isn’t just going to be a federal bailout of the states,” Mnuchin said early Tuesday on CNBC. “States that had specifically large expenses because of the coronavirus, like New York and New Jersey, it was the right thing that the federal government gave them money.”

Not to worry, however, because Steve is happy to spring for the US Police State.

He said he approves of local governments using coronavirus funding to enforce public safety through law enforcement, but not for revenue lost because of the economic shutdown or “states that were mismanaged” before the pandemic hit.

Typical Deep State Globalists.

If you like your oppressive, authoritarian police state, you can have your oppressive, authoritarian police state!

Regardless, readers may recall that on Phase 2.0 of the Coronavirus Fiscal Stimulus, $150 billion was set-up to help out the states and what not.

Or was it Phase 1?

No, wait.

Phase One was the trade “deal”.

Perhaps it was Phase 3 of the Coronavirus Fiscal Stimulus.

Or Phase 3.5?


That’s a thing:

Apparently everything is a Phase now, yet to make it seem like there are not too many of them, because they say money printing is a confidence game, after all, the phases now come with digits to the right of the decimal point.

But I digress.

Because huge government spending now comes in phases, $150 billion was set aside to help the States.

There’s a problem, however.

Today, Mnuchin says those funds have been “emptied”:

Mnuchin also said he has emptied the $150 billion funding from Congress for states and territories established to help cope with a public health emergency crushing local budgets.