Greve on the state debt trap in three parts

In case you missed it, here are Michael Greve’s 3 provocative posts that outline the ruinous nature of our “cooperative federalism.” In rich detail, Greve argues that our transfer payment system from the federal governments to the states has fostered the $4.5 trillion in unfunded pension obligations of the states. Also, Obamacare doubles down on this system by implicitly bailing out states in allowing them to shift their state employee healthcare costs on to Medicaid and get reimbursed for doing it. Finally, the 3rd post looks to Argentinian federalism as a possible and depressing future course for our federalism.

Have a nice day!