My staff, in doing research and putting together my remarks, discovered that currently the single biggest source of revenue for State governments is to borrow money that is coming down from Washington. They are getting more from us than their sales taxes, their income taxes, and their property taxes. The States are simply becoming completely dependent upon us. As I have heard both of my colleagues point out, we are sending this borrowed money down essentially so they do not have to make the tough decisions they would otherwise have to make. So I would ask my friends: When does it end? When does this dependency come to an end? I thought last year it was supposed to be timely, temporary, and targeted.
Editor's note · Context
The speaker addresses state dependency on federal funding and the implications of borrowing.
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