According to a recent video from CNBC, 27 states are on the verge of going bankrupt. These states face massive budget cuts as they look for ways to pay their bills.
During the pandemic, the federal government gave states huge payouts to ensure that essential programs and workers were kept on the payroll. States used these funds not as a one-time windfall but as part of their budgets.
Now that the federal money has dried up, states are scrambling to make ends meet. And with the new Trump administration that’s coming in January promising massive budget cuts at the federal level, states cannot look for a bailout from the feds.
So, what’s a state to do? They have started looking at programs that don’t directly impact its citizens where they can cut, and Louisiana has found just the place to cut.
Lawmakers in Louisiana just passed a budget that could cut $55 million from the …