From the Key Takeaways: " Bailing out states for reckless policy decisions would likely delay economic recovery, cause blatant inequities, and shift the costs to all taxpayers.  Instead of relying on a federal bailout, states can address near-term budget shortfalls by enacting sound policies that also generate long-term benefits.  States should safely re-open parts of society, scale back spending increases, encourage employment opportunities, and reform broken pension plans."
Backgrounder No. 3499
Heritage Foundation. Posted here with permission. Documents are for personal use only and not for commercial profit.
Heritage Foundation: https://www.heritage.org/