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3min chapter
Reviving Federalism to Tackle the Government Debt Crisis
Cato Daily Podcast
The Impact of Bond Ratings and Exploring Federalism in Addressing the Government Debt Crisis
This chapter explores the impact of bond ratings on state governments' debt and borrowing ability, discussing how credit rating agencies downgrade states' bond ratings based on their debt levels and unfunded obligations, resulting in higher borrowing costs and discomfort for state politicians.
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