Ted Cruz: I don’t see why Texas should have to bail out states for irresponsibility

Texas Sen. Ted Cruz (R) said he is weary of massive aid for state governments in the next coronavirus stimulus bill if it serves as a bailout for poor financial decisions governors have made before the crisis.

“I don’t see any reason why the people of Texas should have to pay higher taxes to bail out states that have been irresponsible,” Cruz said on CNBC’s “Squawk Box” Wednesday. “If we’re focused on dealing with the coronavirus crisis that’s fine, but it shouldn’t be an excuse to bail out states for fiscal irresponsibility and fiscally reckless policies.”

“Illinois unfunded pension liability is $241B and that was caused by politicians who were just buying boats,” says @tedcruz. “It shouldn’t be an excuse to bailout states for irresponsibility and fiscally reckless policies that long preceded the coronavirus pandemic. pic.twitter.com/tj9xCT3JwA

During the interview, Cruz specifically named the $241 billion pension debt in Illinois, which is the highest in the nation.


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