How To Stop States From Borrowing Too Much Money

Wharton’s Vincent Buccola discussess his research on holding states more accountable for debt. http://d1c25a6gwz7q5e.cloudfront.net/audio/20170112-KW-RR-Buccola.mp3 An old, arcane law absolves American states from the obligation to pay their debts. While that option is rarely used, experts warn that it can lead to excessive state debt and other problems. One remedy would be to allow states to file…